
Market Equilibrium
Authored by Syafiqah Nizam
Education, Social Studies, Business
10th Grade
Used 4+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"holding all else equal, when the price of a good rises, suppliers increase their quantity supplied for that good"
law of supply
law of demand
law of equilibrium
opportunity cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the price where the quantity supplied equals the quantity demanded is known as
opportunity cost
demand curve
marginal analysis
market equilibrium
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the quantity demanded is greater than the quantity supplied it is known as
equilibrium
a shortage
a surplus
an opportunity cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Any price where quantity demanded is not equal to the quantity supplied is known as disequilibrium.
true
false
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a way that a firm can eliminate a surplus?
raise prices
create a new product
offer a sale on the item
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When demand increases, the equilibrium price and quantity supplied will both
increase
decrease
stay the same
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppose that the market for coats is described as follows: What is the equilibrium price of coats?
120
100
80
60
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