What happens when the price of a product is set below the equilibrium point?

Understanding Environmental Economics Through Supply and Demand Dynamics

Interactive Video
•
Science, Business, Economics
•
9th - 12th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There is a surplus of the product.
The product becomes obsolete.
There is a shortage of the product.
The demand for the product decreases.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the context of supply and demand, what is equilibrium?
The point where supply exceeds demand
The point where demand exceeds supply
The point where supply equals demand
The point where prices are highest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key factor that environmental economics considers which traditional economics often overlooks?
Technological advancements
Market trends
Externalities
Consumer preferences
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which index is proposed as a better alternative to GDP for measuring a nation's wealth?
Consumer Price Index (CPI)
Genuine Progress Indicator (GPI)
Human Development Index (HDI)
Environmental Performance Index (EPI)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is GDP considered an insufficient measure of a nation's wealth in environmental economics?
It does not consider environmental costs and externalities.
It does not account for technological advancements.
It focuses solely on consumer spending.
It only measures agricultural output.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the cap and trade system in environmental economics?
To set a maximum limit on pollution and allow trading of permits
To increase production efficiency
To reduce consumer prices
To eliminate all pollution
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main goals of environmental economics?
To maximize short-term profits
To ensure sustainable use of resources
To eliminate all forms of pollution
To increase consumer spending
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