A drop in price will
Economics Unit 2

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Jasmine Ramahi
Used 90+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
increase the quantity demanded of goods
decrease the quantity demanded of goods
not affect the quantity demanded of goods
change the law of demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following goods are the most demand inelastic?
PS4
iPhone 8x
Gasoline
Starbucks Triple Venti, Half Sweet, Non-Fat, Caramel Macchiato, w/ Soy Milk
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Advances in Technology usually...
Lower costs and increase supply at all price levels
increase cost and increase supply at lower price levels
lower costs and increase supply at higher price levels
increase cost and decrease supply at all price levels.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement explains why prices rise in a market?
producers produce a quantity greater than consumers want to buy
consumers buy much less of a good than they have in previous years
new producers enter the market
there is excess demand in the market
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A market is in equilibrium when
quantity demanded is greater than quantity supplied
quantity supplied and quantity demanded are equal
quantity supplied is greater than quantity demanded
quantity supplied and quantity demanded are set by the government
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the actual price in a market is required to be below the equilibrium price, you have
Equilibrium
A price Floor
A price ceiling
Excess Supply
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The supply curve is typically:
flat
upward sloping
downward sloping
negative slope
Create a free account and access millions of resources
Similar Resources on Quizizz
12 questions
ECON Common Quiz 1 (Ch. 1-4)

Quiz
•
12th Grade
11 questions
Price Controls

Quiz
•
12th Grade
15 questions
Demand & Law of Demand

Quiz
•
9th - 12th Grade
15 questions
Unit 2 Microeconomics

Quiz
•
12th Grade
10 questions
1.5 & 1.6 - Supply and Market Equilibrium

Quiz
•
9th - 12th Grade
10 questions
Econ Unit 2: Week 3 Key Terms

Quiz
•
12th Grade
10 questions
Supply

Quiz
•
12th Grade
15 questions
Determinants of Demand

Quiz
•
9th - 12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Social Studies
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
10 questions
Right Triangles: Pythagorean Theorem and Trig

Quiz
•
11th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade
24 questions
LSO - Virus, Bacteria, Classification - sol review 2025

Quiz
•
9th Grade
65 questions
MegaQuiz v2 2025

Quiz
•
9th - 12th Grade