Favors neither the producer nor the consumer
Prices
12th Grade
•25 Qs
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Prices
Quiz
•
Social Studies
•
12th Grade
•
Hard
John Robinson
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Prices
Rationing
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Flexible and can accommodate to change quicker
Prices
Rationing
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Easy to understand
Prices
Rationing
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Encourages people to use their resources wisely.
Prices
Rationing
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A minimum price consumers are required to pay for a good or service.
Price Ceiling
Market Clearing Price
Equilibrium
Price Floor
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A maximum price consumers are required to pay for a good or service.
Price Ceiling
Equilibrium
Market Clearing Price
Price Floor
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A legal minimum on the price at which a good can be sold
target price
price ceiling
economic model
price floor
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