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5 Written questions

5 Matching questions

  1. some products are ----, meaning that they are used together
  2. ----is the degree to which recourses are used efficiently to produce goods and services
  3. in a product has----demand, price changes have little effect on the quantity demanded
  4. ----items generally have an elastic demand
  5. term that describes the table that lists the quantities of a product or service over a range of possible prices
  1. a productivity
  2. b inelastic
  3. c expensive
  4. d demand schedule
  5. e compliments

5 Multiple choice questions

  1. law of supply
  2. market demand
  3. price floor
  4. price ceiling
  5. supply

5 True/False questions

  1. competing products are called---- because consumers can use one i place of the othersubstitutions


  2. supply---- measures how the quantity supplied changes in response to price changessupply curve


  3. ----utility is the principle that additional satisfaction decreases as more units are consumedprofit


  4. which term describes the combination of supply schedules for all businesses that provide the same good or servicemarket supply


  5. in general, when---- get tighter, supply is restrictedgovt. regulation