Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
ECON - Unit 3B
Test Description: SSEMI2
Instructions: Answer all questions to get your test result.
1) The quantity a seller is willing and able to sell at each price... is called:
A
demand
B
supply
C
####
D
a determinant
2) Due to the law of supply, as the price of a good increases:
A
the quantity of the good will also increase
B
the quantity of the good will be stagnant
C
the quantity of the good will decrease
D
####
3) As the supply curve shifts to the right:
A
####
B
there is an increase in supply
C
there is a decrease in supply
D
the price and quantity are unaffected
4) The number of sellers, producer expectations, and increases in productivity are all:
A
determinants in supply
B
prices floors
C
####
D
price ceilings
5) The market clearing price is also known as:
A
the resource market
B
circular flow
C
the productivity market
D
the equilibrium price
6) The equilibrium price occurs at:
A
####
B
the price ceiling
C
the intersection of the supply and demand curves
D
the price floor
7) Each time the supply or demand curve shifts:
A
####
B
the equilibrium prices stays the same
C
there is a new equilibrium price
D
###
8) The price ceiling is the maximum price:
A
###
B
####
C
below the equilibrium price
D
above the equilibrium price
9) The price floor is the minimum price:
A
####
B
above the equilibrium price
C
below the equilibrium price
D
###
10) Having a price ceiling usually leads to:
A
a surplus
B
###
C
####
D
a shortage
11) Having a price floor typically leads to:
A
###
B
####
C
a shortage
D
a surplus
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?