Econ Ch 5/6 test

Econ Ch 5/6 test

10th Grade

32 Qs

quiz-placeholder

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Econ Ch 5/6 test

Econ Ch 5/6 test

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Medium

Created by

Amanda McCool

Used 4+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the desire to have some good or serivce AND the ability to pay for it.

supply

demand

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When the price of a good or service falls, consumers buy more of it.

Law of Supply

Law of Demand

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A demand curve slopes...

downward

upward

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When the buying power of your income changes, even though the amount of income doesn't change.

Inferior Goods Effect

Real Income Effect

Subsitution Effect

Relative Price

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A change in the amount of a product that people will buy because of a change in price is called

Change in Demand

Change in Supply

Change in Supply Demanded

Change in Quantity Demanded

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

When a change in the marketplace makes buyers buy different amounts of a good at every price.

Change in Quantity Demanded

Change in Supply Demanded

Change in Demand

Change in Supply

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Goods that consumers demand less of when their incomes rise. ie. Dollar Store goods.

Inferior Goods

substitute goods

Normal Goods

Relative Prices

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