Equilibrium, Price Floor, Price Ceiling
Flashcard
•
Social Studies
•
11th Grade
•
Practice Problem
•
Hard
Wayground Content
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8 questions
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1.
FLASHCARD QUESTION
Front
Which of these best defines equilibrium in a market? a situation in which quantity supplied is greater than quantity demanded, a situation in which quantity demanded is greater than quantity supplied, a situation in which quantity supplied and quantity demanded are equal, a situation where a minimum price is set
Back
a situation in which quantity supplied and quantity demanded are equal
2.
FLASHCARD QUESTION
Front
A situation in which the quantity supplied is greater than the quantity demanded is
Back
a surplus
3.
FLASHCARD QUESTION
Front
A situation in which quantity demanded is greater than quantity supplied is
Back
a shortage
4.
FLASHCARD QUESTION
Front
A situation in which a minimum price is set is referred to as
Back
a price floor
5.
FLASHCARD QUESTION
Front
A situation in which a maximum price is set is referred to as
Back
a price ceiling
6.
FLASHCARD QUESTION
Front
Which of the following demonstrates price equilibrium?
Back
7.
FLASHCARD QUESTION
Front
Which of these demonstrates a surplus of goods?
Back
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