NAME

Question types


Start with


Question limit

of 29 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

5 Matching questions

  1. efficiency
  2. socially optimal quantity
  3. equilibrium quantity
  4. market
  5. excess demand
  1. a the ratio of the output to the input of any system
  2. b when quantity demanded is more than quantity supplied
  3. c the quantity supplied and the quantity demanded at the equilibrium price
  4. d The quantity of a good that results in the maximum possible economic surplus from producing and consuming the good.
  5. e the world of commercial activity where goods and services are bought and sold

5 Multiple choice questions

  1. condition that occurs when all goods and services are produced and consumed at their respective socially optimal levels
  2. the largest dollar amount the buyer would be willing to pay for a good
  3. The difference between the buyer's reservation price and the seller's reservation price
  4. economic metaphor for unexploited gains from exchange
  5. two goods for which an increase in the price of one leads to an increase in the demand for the other

5 True/False questions

  1. market equilibriuma sensory system located in structures of the inner ear that registers the orientation of the head

          

  2. change in the quantity supplieda movement along the supply curve that occurs in response to a change in price

          

  3. equilibriuma sensory system located in structures of the inner ear that registers the orientation of the head

          

  4. change in demanda change in the quantity demanded of a good or service at every price; a shift of the demand curve to the left or right.

          

  5. demand curvea graph of the relationship between the price of a good and the quantity supplied

          

Create Set