Applied Economics Reviewer

Applied Economics Reviewer

University

34 Qs

quiz-placeholder

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Applied Economics Reviewer

Applied Economics Reviewer

Assessment

Quiz

Education

University

Easy

Created by

Sharmaine cruz

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34 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Market?

Exchange of goods

A place where parties can gather to facilitate the exchange goods and services

Services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand?

Consumers

Price and services

A person willingness to purchase a product at a specific price

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Explain and tangible and intangible of a product

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What is demand curve

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand schedule

Table of demand curve

Table displaying the demand curve

Table displaying the quantity of a product and services at a various price points

Table displaying the quantity of demand in various price points

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is supply

Refers to a sellers

Refers to a quantity of goods that seller is willing to sell for sale

Refers to the quantity of a product

B and C

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is law of demand

Direct relationship between the quantity of price

inverse relationship between the price and the quantity demanded

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