Lesson 7 - Prices

Lesson 7 - Prices

9th - 12th Grade

75 Qs

quiz-placeholder

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Lesson 7 - Prices

Lesson 7 - Prices

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Luis Cardenas

Used 30+ times

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75 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The monetary value of a product

price ceiling

target price

economic model

price

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Price where quantity supplied equals quantity demanded.

Equilibrium price

Equilibrium quantity

Price floor

Price

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The highest legal price that can be charged for a product:

Price

Price ceiling

Price floor

Target price

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The lowest legal price that can be paid for a product:

Price

Price Ceiling

Price Floor

Surplus

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is the opposite of a surplus?

Inelastic

Shortage

Equilibrium

Floor

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which term best describes rent control?

Price ceiling

Subsidy

Equilibrium price

Nonrecourse

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Law of Demand states that as quantity demanded decreases...

wages decrease
production increases
price increases
quality decreases

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