NAME

Question types


Start with


Question limit

of 25 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

5 Matching questions

  1. determinants of supply
  2. change in supply
  3. demand
  4. demand curve
  5. supply
  1. a offering goods and services for sale
  2. b a graph of the relationship between the price of a good and the quantity demanded
  3. c the ability and desire to purchase goods and services
  4. d Factors such as input prices, productivity, and the legal-institutional environment that, if they change, shift the aggregate supply curve.
  5. e A change in the quantity supplied of a good or service at every price; a shift of the supply curve to the left or right.

5 Multiple choice questions

  1. the price that balances quantity supplied and quantity demanded
  2. maximum price that can be charged for goods and services, set by the government.
  3. Goods for which demand goes up when income is higher and for which demand goes down when income is lower.
  4. the change in consumption resulting from a change in real income
  5. excess

5 True/False questions

  1. change in quantity demandedA change in the quantity supplied of a good or service at every price; a shift of the supply curve to the left or right.

          

  2. inferior goodGoods for which demand goes up when income is higher and for which demand goes down when income is lower.

          

  3. equilibrium quantitythe price that balances quantity supplied and quantity demanded

          

  4. price floormaximum price that can be charged for goods and services, set by the government.

          

  5. substitution effectwhen consumers react to an increase in a good's price by consuming less of that good and more of other goods

          

Create Set