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WorksheetsGlobal Business & the Economy
Total questions: 13
Worksheet time: 7mins
Name
Class
Date
1.
A schedule of the amounts of a good or service that businesses will offer for sale at different prices.
a)
Demand Curve
b)
Production Schedule
c)
Output Schedule
d)
Supply Curve
2.
Focuses on how governments’ monetary and fiscal policies affect the overall operation of an economic system.
a)
Economics
b)
Macroeconomics
c)
Microeconomics
d)
Numismatics
3.
What is the term for the price at which the quantity supplied by sellers is precisely equal to the quality demanded.
a)
Break Even Point
b)
Investment Cost
c)
Optimum Price
d)
Equilibrium Price
4.
What does a demand curve show?
a)
Upward sloping graph showing price change
b)
Downward sloping graph showing lower prices bring larger amount purchased
c)
Graph showing decrease of price brings fewer purchases
d)
Upward sloping graph showing higher prices equal less purchases
5.
As prices rise, supply curves usually slope _____ as they move to the _______.
a)
Upward, Right
b)
Downward Left
c)
Downward Right
d)
Upward Left
6.
What plays a central role in determining the overall supply?
a)
Factors of Production
b)
Industry
c)
Managment
d)
Consumers
7.
What is shown by the graph above?
a)
Demand
b)
Supply
8.
As Price ________ the quantity demanded ________.
a)
Increases, Increases
b)
Increases, Decreases
c)
Decreases, Decreases
d)
Decreases Increases
9.
What is shown by movement along the demand curve?
a)
Changes in Supply
b)
Changes in Demand
c)
Demand vs Supply
d)
Excess of supply
10.
Meijer brand potato chips are an example of
a)
Customer Preference
b)
A substitute
c)
A complementary item
d)
Supply
11.
Coffee creamer is an example of
a)
Complementary item
b)
Substitute
c)
Preference
d)
Supply
12.
The study of small economic units (like families and consumers) is
a)
Economics
b)
Microeconomics
c)
Macroeconomics
d)
Polynomics
13.
The study of overall economic issues is called:
a)
Econimics
b)
Macroeconomics
c)
Microeconomics
d)
Polynomics
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