Economics - Micro-Economics  Vocabulary Quiz

Economics - Micro-Economics Vocabulary Quiz

9th - 12th Grade

32 Qs

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Economics - Micro-Economics  Vocabulary Quiz

Economics - Micro-Economics Vocabulary Quiz

Assessment

Quiz

others

9th - 12th Grade

Hard

Created by

David McLeod

Used 12+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Types of changes in a market that will cause the entire demand curve to move (shift) to the right or to the left. All consumers of a good, service, or productive resource will be willing and able to purchase more or less or a product at all prices in the market.
determinants of supply
Households (resource market)
Businesses (resource market)
determinants of demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers of goods and services - sell goods and services to households - earn revenue in exchange for goods and services
Businesses (resource market)
Households (resource market)
Households (product market)
Businesses (product market)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Types of changes in a market that will cause the entire supply curve to move(shift) to the right or to the left - all sellers of a good, service, or productive resource will be willing and able to supply more or less of their product at all prices in the market
determinants of demand
determinants of supply
Households (resource market)
Businesses (resource market)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Model economists use to show the characteristics and relationships that exist between households and businesses in the economy
circular flow diagram
production possibilities curve
market demand curve
market supply curve

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumers of the productive resources - purchase the use of land, labor, capital, and entrepreneurship from households to the factor market using the revenue they earned in the product market
Businesses (resource market)
Households (product market)
Businesses (product market)
Households (resource market)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumers of goods and services - buy goods and services from businesses - spend the income they earned to buy the goods and services
Businesses (product market)
Households (product market)
Businesses (resource market)
Households (resource market)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Quantity a seller is willing and able to see at each price
supply
supply schedule
quantity supplied
demand

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