
Supply, Demand, Governmental Policies
Quiz
•
Financial Education
•
12th Grade
•
Hard
Kudaibergenov Yernar
FREE Resource
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30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a price ceiling?
Price set by the government to regulate the market
Price determined by supply and demand
Minimum price at which a good can be sold
Maximum price at which a good can be sold
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following statements is true for a price ceiling?
It increases the supply of the good
It can lead to a shortage of the good
It always leads to a surplus of the good
It does not affect the market price
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the price floor?
Minimum price at which a good can be sold
Price determined by supply and demand
Maximum price at which a good can be sold
Price set by the government to regulate the market
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following statements is true for a price floor?
It can lead to a surplus of the product
It increases the demand for the product
It does not affect the market price
It always leads to a shortage of the product
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What effect does a tax on sellers have on market prices?
Prices decrease
Prices remain unchanged
Prices increase
Prices become more stable
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following factors determines who bears the burden of a tax?
Sales volume
Who pays the tax
Elasticity of demand and supply
Market competition
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What happens to the quantity of goods in the market when a tax is introduced?
The quantity of goods decreases
The quantity of goods becomes unpredictable
The quantity of goods increases
The quantity of goods remains unchanged
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