What does microeconomics study?
Understanding Macroeconomics and Microeconomics

Quiz
•
Other
•
6th Grade
•
Hard
Hana Krause
Used 6+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The behavior of individual households and firms
The economy as a whole, including inflation, growth, and unemployment
The decisions of countries and governments
The interaction between different countries' economies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a focus of macroeconomics?
The decision-making process of a single business
The study of how supply and demand determine prices in individual markets
National unemployment rates
The purchasing decisions of a family
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the law of demand?
As the price of a good increases, the supply of the good also increases.
As the price of a good increases, the demand for the good decreases.
As the price of a good decreases, the supply of the good decreases.
As the price of a good decreases, the demand for the good increases.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the law of supply state?
Suppliers will offer more of a good at a higher price.
Suppliers will offer less of a good at a higher price.
Suppliers will offer more of a good at a lower price.
Suppliers will offer less of a good at a lower price.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure is characterized by a single seller and many buyers?
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure do firms sell products that are similar but not identical?
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the equilibrium price when there is an increase in demand, assuming supply remains constant?
It decreases
It increases
It remains the same
It first increases, then decreases
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