What does a rightward shift in the demand curve indicate in a supply and demand graph?

Understanding Economic Concepts and Graphs

Quiz
•
History
•
11th Grade
•
Hard
James Cherry
Used 1+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in demand
An increase in demand
A decrease in supply
An increase in supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a non-price determinant of supply?
Consumer preferences
Production technology
Price of the good
Income of consumers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a production possibility curve, what does a point inside the curve represent?
Efficient production
Inefficient production
Unattainable production
Maximum production
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the circular flow diagram illustrate?
The relationship between supply and demand
The flow of goods and services in an economy
The trade-offs between two goods
The opportunity cost of production
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is opportunity cost best defined?
The total cost of producing a good
The value of the next best alternative foregone
The monetary cost of a decision
The benefit received from a choice
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity in economic terms?
Unlimited resources
Limited resources and unlimited wants
Limited wants and unlimited resources
Unlimited resources and wants
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a trade-off?
Choosing to study instead of going out with friends
Buying a car with a loan
Saving money in a bank account
Receiving a paycheck
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