Search Header Logo

AP Micro Short Final

Authored by Jeff Searcy

Social Studies

12th Grade

Used 3+ times

AP Micro Short Final
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of supply, price and quantity have which relationship?

Positive

Negative

No

Inverse

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum legal price of a good or service called?

Price ceiling

Price floor

Equilibrium price

Market price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of supply, the points on the curve are known as what?

Quantity supplied

Equilibrium price

Demand points

Market surplus

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a model economists use to show the relationships in the economy, where business and households are the actors in the economy who interact in the resource and product market?

Circular Flow

Supply and Demand Curve

Production Possibilities Frontier

Law of Diminishing Returns

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the point of intersection between the market demand curve and the market supply curve called?

Equilibrium

Surplus

Deficit

Monopoly

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What law states as the price of a good rises the good consumers are willing and able to buy will decrease?

Law of demand

Law of supply

Law of diminishing returns

Law of equilibrium

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is it called when there is a larger quantity supplied than there is quantity demanded?

Surplus

Shortage

Equilibrium

Deficit

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?