Tuesday

Tuesday

12th Grade

20 Qs

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Tuesday

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Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

Conner Woods

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the law of demand say?

As price increases, supply increases

As income rises, demand drops

Higher prices create higher profits

As price rises, demand falls

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes a movement along the demand curve?

Income changes

Consumer preferences

Celebrity trends

A change in price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes the demand curve to shift?

A change in price only

Changing profit margins

Price of supply

External factors like income or trends

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of elastic demand?

Gas

Medicine

Electricity

Designer shoes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of inelastic demand?

Video games

Shoes

Movie tickets

Insulin

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of Dutch Bros goes up and people switch to Starbucks, that’s called:

A demand shift

Income effect

Price gouging

Substitution effect

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If more people want a product and supply stays the same, price will:

Stay the same

Decrease

Flatten

Increase

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