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Unit 3 Vocab

Authored by Alison Lieffers

Financial Education

9th - 12th Grade

Used 5+ times

Unit 3 Vocab
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Legal maximum price for a product

Variable Input

Equilibrium

Price Ceiling

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A resource or factor of production that CAN be changed by a firm

Complement

Variable Input

Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The combination of quantities that someone would be willing and able to buy over a range of possible prices given at that very moment

Price Floor

Variable Input

Demand

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Two items that are bought and used together

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The point where supply and demand meet

"sweet spot"

Disequilibrium

Demand

Equilibrium

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Competing goods that can be used in place of another

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Total amount of a specific good or service

Supply

Equilibrium

Variable Input

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