Unit 2 Review
Authored by TIMOTHY BALASA
Social Studies
12th Grade
Used 28+ times
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27 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you were to graph this demand schedule, the demand curve would
slope upward from left to right
slope downward from left to right
be horizontal
be vertical
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Based on this graph, how many Beanie Babies were demanded at a price of $6 before they became a fad?
100
200
300
400
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The movement in the graph shows that the quantity demanded of butter decreased because the
price of butter increased
price of margarine decreased
price of margarine increased
price of butter decreased
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On Curve A in the graph, suppose the price dropped from $10 to $7. Would quantity demanded increase or decrease and by how much?
Quantity demanded would decrease by 1 unit
Quantity demanded would increase by 1 unit
Quantity demanded would decrease by 5 units
Quantity demanded would increase by 5 units
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the price of $15 on the demand schedule. What point does this price and quantity correspond to in the demand curve?
Point u
Point v
Point x
Point z
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the movement shown on this graph represent?
a change in demand
the inverse relationship between price and quantity demand
the inverse relationship between price and marginal utility
diminishing marginal utility
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the movement from b' to b on the graph represent?
an increase in demand
an increase in quantity demand
a decrease in demand
a decrease in quantity demand
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