Market Equilibrium & PED
Quiz
•
Other
•
9th - 12th Grade
•
Practice Problem
•
Easy
CSEC CSEC
Used 2+ times
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10 questions
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1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Surplus and Shortages in the market are called
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in price causes a
shifting of the curve
movement along the curve
constant in the curve
stretching of the curve
Answer explanation
Changes to the factor PRICE always causes the curve to move.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An extension of supply is a
rightward movement
leftward movement
rightward shift
leftward shift
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A contraction of supply is a
rightward shift
leftward shift
rightward movement
leftward movement
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in productivity of workers will result in a
rightward movement
leftward shift
rightward shift
leftward movement
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
A market price lower than equilibrium causes
Excess Supply
Excess Demand
Surplus
Shortage
7.
DRAW QUESTION
3 mins • 5 pts
Draw a surplus in the market (a situation where there is excess supply).

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