ACADEC ECON Quiz #5

ACADEC ECON Quiz #5

12th Grade

35 Qs

quiz-placeholder

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ACADEC ECON Quiz #5

ACADEC ECON Quiz #5

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Tin Tran

Used 1+ times

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The law of demand states that as the price increases then 

quantity demanded increases
quantity demanded decreases
demand increases
demand decreases

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Generally speaking as the price of a good declines, quantity demanded also decreases.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of demand helps explain why people buy more when the price decreases.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The downward slope of a demand curve reflects the fact that, other things constant, price and quantity demanded are

negatively related
positively related
elastic
inelastic

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A change in quantity demanded is shown

at various points on the demand curve
with a new demand curve drawn above or below the original demand curve
with a vertical line

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A table that lists the quantity of a good that a single person will buy at each price in a market.

demand schedule
market demand schedule
elasticity chart
supply and demand graph

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The demand curve always slopes

down and to the right
straight up and down
down and to the left
up and to the right

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