Supply, Demand, Governmental Policies

Supply, Demand, Governmental Policies

12th Grade

30 Qs

quiz-placeholder

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Supply, Demand, Governmental Policies

Supply, Demand, Governmental Policies

Assessment

Quiz

Financial Education

12th Grade

Hard

Created by

Kudaibergenov Yernar

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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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