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WorksheetsMicroeconomics
Total questions: 20
Worksheet time: 10mins
The law of supply
direct relationship between price and quantity supplied: upward curve
direct relationship between price and quantity supplied: downward curve
indirect relationship between price and quantity supplied: upward curve
indirect relationship between price and quantity supplied: downward curve
Which is NOT a shifter for demand
population
taste/preferences
government regulation
income
Point of Equilibrium is where the demand and supply curve intersect
true
false
which are shifters in supply
government
productivity
population
technology
tastes/preferences
which does the following describe:
unlimited liability one owner only income taxed
partnership
corporation
sole proprietorship
example of perfect competition
Comcast
Apple
Agricultural Market
H&M
which is an example of a monopoly
comcast
flea market
forever 21
apple
prices set too high
price ceilings
price floors
price too low
price floors
price ceilings
causes shortages
price ceilings
price floors
creates surpluses
price ceilings
price floors
Change in PRICE
movement along curve
new curve
which describes a corporation
limited liability
more than one owner
income tax
selling stocks to company
law of demand
inverse relationship between price and quantity demanded: upward curve
inverse relationship between price and quantity demanded: downward curve
direct relationship between price and quantity demanded: upward curve
direct relationship between price and quantity demanded: downward curve
equilibrium is an example of government regulation
true
false
Which shifter would this be an example of: A sudden study found that consuming chocolate leads to a longer life
preferences
population
input costs
taxes
the factors of a circular flow model
factor market
product market
businesses
households
Where are FoP's distributed
product market
factor market
from households to businesses
from businesses to households
which color does money represent in this graph
green
red
blue
what are the factors of production exchanged in the factor market
land
labor
capital
