Test #3 - Microeconomics

Test #3 - Microeconomics

12th Grade

36 Qs

quiz-placeholder

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Test #3 - Microeconomics

Test #3 - Microeconomics

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Kent Benedict

Used 18+ times

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36 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Microeconomics is the study of…

money and the stock market.

the factors that influence income, wealth, and well-being.

the market behavior of individual consumers and firms.

the behavior and performance of an economy as a whole

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure must sellers take whatever price the market determines?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If not regulated by the government, which market structure has total price-setting power?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure are sellers mutually interdependent?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term to describe people who use goods/services to satisfy their personal needs?

Producers

Manufactureres

Consumers

Customers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the tangible item?

Hair cut

Food

Shoe shine

Movie ticket

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the service?

Car wash

Bottle of water

Apple

All of the above

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Microsoft

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Apple

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Others

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