Economics-Price-6.1

What is one example of a signal that helps us make decisions?

• Traffic light color
• Car speed
• Pedestrian signals
• Road signs
• Pedestrian signals

What do we observe when we approach an intersection?

• Traffic light color
• Pedestrian movements
• Road conditions
• Car parking
• Road signs

What do we check on other cars when we approach an intersection?

• Blinkers
• Fuel gauge
• Tire condition
• Car brand
• Window tint

What do blinkers signal?

• Intentions to turn
• Speed limits
• Parking availability
• Road closures
• Vehicle malfunction

What type of signals are sometimes hidden?

• More hidden signals
• Visual signals
• Audible signals
• Digital signals
• Environmental signals

What does pain signal?

• Something is wrong with your body
• A change in temperature
• The need for rest
• A lack of nutrition
• A stress response

What question is raised about signals in the text?

• Signals in economics
• Signals in medicine
• Signals in traffic law
• Signals in education
• Signals in technology

What is a simple example of a signal in economics?

• Price
• Taxes
• Government regulation
• Interest rates
• Currency exchange rates

How is a price determined in economics?

• By supply and demand
• By government decree
• By consumer preferences
• By company profits
• By competitor pricing

What does a high price signal?

• Buy less, produce more
• Buy more, produce less
• Reduce supply, increase demand
• Increase supply, reduce demand
• Reduce production, lower demand