Unit 4

Unit 4

9th - 12th Grade

15 Qs

quiz-placeholder

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Unit 4

Unit 4

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Rebekah Gabbert

Used 7+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 4 things needed to produce goods and services:natural resources, human resources, capital, and entrepreneurship

Supply

Factors of production

Demand

Equilibrium

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of a good or service that producers are willing to sell at all possible market prices

Demand

Capital

Supply

Assets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The desire, willingness and ability to buy a good or service

Demand

Supply

Assets

Liabilities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The point at which the supply and demand for a product is equal or balanced. There is neither a surplus nor a shortage of that product

Price elasticity

Capital

Equilibrium

Liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The change in price of a product affects the demand for that product. Small change in price results in large change in demand for that product

Economic freedom

Equity

Price elasticity

Demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increasing the interest of a consumer to increase the demand of a product - advertising, coupons, lower prices or put the product on sale

Demand stimulation

Assets

Economic freedom

Liabilities

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money used to build, run, or grow a business

Equity

Capital

Price elasticity

Assets

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