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Total questions: 18
Worksheet time: 9mins
Any arrangement that brings buyers and sellers together is called:
The hallway
A Market
Thanksgiving
Goods and Services
When there is a shortage in a market the price will...
Increase
Decrease
Stay the same
it depends
If there is an excess demand, the quantity demanded is _________ than the quantity supplied.
lower
higher
the same
it depends
if the price of pepsi goes up, what will happen to the demand for coke?
it will increase
it will decrease
it will stay the same
who knows, coke tastes horrible anyway
What is it called in a market, when buyers buy exactly the same amount as seller want to sell?
disequilibrium
surplus
shortage
equilibrium
If the quantity demanded is 200 and the quantity supplied is 50, how much is the excess demand?
50
150
200
250
What does this curve represent?
demand
supply
equilibrium
shortage
What does this curve represent?
supply
equilibrium
demand
surplus
A shortage of a good is often a signal for a producer to
lower the production of that good
lower the prices of that good
raise the prices of that good
shift production to another good
Which best describes consumer surplus?
The added up individual surpluses (difference between equilibrium price ant the price, consumers are willing to pay) of all consumers.
The cost of providing one product
The profit made by a firm
Non is correct
Which of these can shift the demand curve?
change in Income
Change in Shoes
Change in Technology
Non of these
What happens, if the price a consumer is willing to pay is smaller than the equilibrium price?
A transaction will take place since the consumers will buy everything
Non of these answers are true
A transaction will take place since the producers will lower their prices
No transaction will take place since no supplier will offer a product
What animal is it?
Duck
Hen
Chicken
Rooster
Who is the current Federal Minister of Finance (Finanzminister) in Germany?
Angela Merkel
Ursula von der Leyen
Olaf Scholz
Horst Seehofer
After death hair...
stops growing
grows for a day after
grows for a week after
grows for a month after
Months that begin on a _____________________ will always have a "Friday the 13th".
Monday
Wednesday
Friday
Sunday
Who was Chancellor (Bundeskanzler) of Germany before Angela Merkel?
Helmut Schmidt
Albert Einstein
Gerhard Schröder
Helmut Kohl
The stronges muscle in the body is...
Arm
Leg
Eye
Tongue
