Study Economics Final Exam

Study Economics Final Exam

9th - 12th Grade

20 Qs

quiz-placeholder

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Study Economics Final Exam

Study Economics Final Exam

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Wayground Content

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A price index determined by measuring the price of a standard group of goods meant to represent the market basket of a typical urban consumer.

Gross Domestic Product

Consumer Price Index

Unemployment

Inflation

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Sophia is starting her own coffee shop. What economic term would best describe Sophia and what does that term mean?

Consumer – a person who uses or consumes goods

Partnership – partner in the lemonade stand

Entrepreneur- - person who takes a risk to start a new company

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Type of unemployment that occurs when workers skills do not match those needed for the jobs available.

Seasonal Unemployment

Structural Unemployment

Frictional Unemployment

Cyclical Unemployment

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When too many watermelons are harvested, a market might be said to have a ‘surplus’, because more watermelons are produced then are demanded.  What is likely to happen to the price of watermelons under these conditions?
The price would fall
The price would stay the same
The price would rise
None of the Above

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

VOCABULARY: Market structure where only a few very large sellers dominate an industry.
Monopoly
Oligopoly
Supply
Demand

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image
The amount of goods or services available is called?
supply
demand
producer
consumer

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following is characterized as ‘the point where the quantity of a good supplied is the same as the quantity demanded of that good’?
The S/D Similarity       
The Equilibrium Price
Price-Fixing     
Price Adjustment Point

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