Economics 3.2

Economics 3.2

12th Grade

15 Qs

quiz-placeholder

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Economics 3.2

Economics 3.2

Assessment

Quiz

History

12th Grade

Hard

Created by

Taylene Traci Yniguez

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "ceteris paribus" mean in economics?

Everything changes

Nothing is constant

All else being equal

Market equilibrium

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When income increases and the demand for a product decreases, this product is considered:

A normal good

An inferior good

A complementary good

A substitute good

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would NOT cause a shift in the demand curve?

Change in consumer preferences

Change in price of the good

Change in population

Change in income levels

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In economics, goods that are used together are called:

Substitute goods

Inferior goods

Normal goods

Complementary goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A rightward shift of the demand curve indicates:

A decrease in demand

An increase in demand

A movement along the demand curve

No change in demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which demographic factor can influence market demand?

The price of the good

The age distribution of the population

The location of the supply curve

The production technology

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of coffee increases and people buy more tea, tea is considered:

A complement to coffee

An inferior good

A substitute for coffee

A normal good

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