2-7 Quiz Pricing
Authored by Gerald Jost
Instructional Technology
11th Grade
Used 1+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A method used to set a price for a product, with the goal of creating optimum value for both the seller and buyer is known as which of the following?
pricing
free market
economic incentives
rational choice theory
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A shop receives the newest car model from a manufacturer with a suggested range of prices from $20,000 - $30,000. After negotiations, the car actually sold for $22,000. This price is known as which of the following?
private enterprise
free market
selling price
economic incentives
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an economic system where production, wages, and prices are determined via the application of the law of supply and demand, with little or no government regulations?
economic incentives
selling price
free market
rational choice theory
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following assumes that people will generally make choices based on their own personal preferences and desired outcomes?
Total Points
Select an an
economic incentives
pricing
free market
rational choice theory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free market, and assuming rational choices are made, people usually respond to _______.
economic incentives
Correct
pricing
private enterprise
selling price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best demonstrates an economic incentive?
working more hours
a raise in salary
buying expensive items
a range of prices
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The current prevailing price listed for a product in the marketplace is known as which of the following?
private enterprise
selling price
market price
economic incentive
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