Question types

Start with

Question limit

of 34 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

5 Matching questions

  1. according to the--- quantity demanded and price move in opposite directions
  2. ----is the extra benefits gained from the purchase of a good or service
  3. competing products are called---- because consumers can use one i place of the other
  4. higher----mean higher costs, which cause a decrease in supply
  5. the---- is the point at which there is neither a surplus or a shortage
  1. a taxes
  2. b equilibrium price
  3. c substitutions
  4. d law of demand
  5. e utility

5 Multiple choice questions

  1. market supply
  2. consumers
  3. price floor
  4. supply
  5. market demand

5 True/False questions

  1. a----demand curve is a graph that lists prices on the vertical axis and quantities on the horizontal axisdemand curve


  2. a product for which quantity changes very little when prices go up or down is said to be supplyinelastic


  3. a----is the amount by which the quantity demanded is higher than quantity suppliedsurplus


  4. in a product has----demand, price changes have little effect on the quantity demandedinelastic


  5. term that describes the table that lists the quantities of a product or service over a range of possible pricessupply