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Unit 1 Review

Authored by Ryan Gest

Social Studies

9th Grade

Used 6+ times

Unit 1 Review
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18 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The diagram represents a

increase in demand

decrease in demand

change in quantity demand

none of the above

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The diagram represents a(n)

increase in supply

decrease in supply

change in quantity supplied

none of the above

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market equilibrium price is the price at which

surpluses depress the number of goods supplied

shortages and surpluses will have no effect on the market

the government will not intervene in the market

the quantity demanded is the same as the quantity supplied

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is an example of the Law of Demand at work?

The price of the pizza goes up when the price of cheese goes up.

Demand for pizza goes down when tacos become more popular

The price of pizza falls when the demand for pizza falls

Demand for pizza rises when the price of pizza falls

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which explains why a supply line is upward sloping?

the Law of Demand states there is an indirect relationship between price and quantity

the Law of Supply states there is a direct relationship between price and quantity

the Law of Supply compares marginal costs and marginal benefits in a constant rate

the Law of Demand shows a positive relationship between two goods, creating the slope

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?

The demand will probably go up

The demand will probably go down

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Assume the image is showing the market for apples. Which of the headlines could indicate the pictured shift is occurring in the market?

Pesticides on apples linked to mouth cancer.

Storms destroy apple orchards.

An apple a day really does keep the doctor away.

New genetic strain leads to apple trees that produce twice as many apples.

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