Economics Semester Exam Review

Economics Semester Exam Review

9th Grade

37 Qs

quiz-placeholder

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Economics Semester Exam Review

Economics Semester Exam Review

Assessment

Quiz

Social Studies

9th Grade

Hard

Created by

Catherine Eisele

Used 2+ times

FREE Resource

37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure: a few firms that work together to change output to control prices

Monopoloy

Oiligopoly

Monopolistic Competition

Perfect Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are monopolies a problem for consumers?

They prevent competition

They are illegal in all countries

They increase demand to create shortages

  • They have many externalities and are often the tragedy of the commons

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If demand is low and supply is high, what is it called?

Unintended Consequences

Surplus

Shortage

Equalibrium

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If demand for goods/services decreases, what happens to the price?

Rises

Falls

Stays the Same

Tragedy of the Commons

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what market structure is price competition the only competition?

Monopoly

Oligopoly

Monopolistic Competition

Perfect Competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kind of shift?

In the market for peaches, the trees are hit with a disease.

Demand Left Shift

Supply Left Shift

Demand Right Shift

Demand Left Shift

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT one of the roles the U.S. government plays in the economy?

Buy goods and services

Regulate the growth of the economy directly

Collect taxes

  • Control all new businesses entering the market

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