3 19 Today's Exam
Quiz by Zadkiel Elder
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
25 questions
Show answers
- Q1eg. What is the capital of france?AmsterdamRomeeg. ParisLondon30s
- Q2Which of the following will occur in the market for grapefruit if the price of oranges, a substitute for grapefruit, decreases?Price Increases, Quantity increasePrice decreases, Quantity decreasesPrice decreases, Quantity increasesPrice increases, Quantity decreases30s
- Q3Which of the following statements correctly defines the law of demand?The lower the price of a commodity, the lower the quantity demanded of that commodity.The lower the price of a commodity, the greater the quantity of that commodity that is demanded.As the price of a commodity increases, the quantity demanded of that commodity also increases.The lower the price of the commodity, the greater the quantity of that commodity that is supplied.30s
- Q4Which of the following market structures produces products for which there are no close substitutes?Perfect competitionMonopolistic competitionOligopolyMonopoly30s
- Q5Which of the following best describes the law of demand?When the price of a good increases, its demand decreases.The price of a good decreases when the supply of the good decreases.When the price of a good decreases, its quantity demanded increases.The price of a good increases when the demand for the good increases.30s
- Q6When there is an increase in the price of pears, a substitute for apples, what will happen?Demand for apples will increaseSupply of apples will increaseDemand of apples will decreaseSupply of apples will decrease30s
- Q7When there is an increase in price of pears, a substitute for apples, what will happen?Supply of apples will increaseSupply of apples will decreaseDemand for apples will increaseDemand of apples will decrease30s
- Q8When there is a decrease in price of oranges, a substitute for apples, what will happen?Supply of apples will decreaseSupply of apples will increaseDemand for apples will decreaseDemand for apples will increase30s
- Q9What is the law of demand?Price and quantity demanded are inversely relatedPrice and demand are directly relatedPrice and quantity demanded are directly relatedPrice and demand are inversely related30s
- Q10What is a substitute?A good that is irreplaceableA good that is typically purchased with another goodA good that is acceptable instead of another goodA good that is unrelated to other goods30s
- Q11The price of Chicago Cubs sweatshirts has increased in May. According to the law of demand...Demand will increaseDemand will decreaseQuantity Demanded will decreaseQuantity Demanded will increase30s
- Q12The law of demand states that, ceteris paribus,Quantity demanded will increase as price decreasesQuantity demanded will increase as price increasesDemand will increase as price decreasesDemand will increase as price increases30s
- Q13The law of demand states that _______________________, all else being equal.as price decreases, quantity demanded decreasesas price increases, quantity demanded decreasesas demand increases, supply decreasesas quantity demanded increases, price stays the same30s
- Q14Pancakes and waffles are substitutes. When the price of pancakes falls, what happens to the market for waffles?Supply of waffles increasesDemand for waffles increasesSupply of waffles decreasesDemand for waffles decreases30s
- Q15Pancakes and waffles are substitutes. When the price of pancakes falls, what happens to the market for waffles?Supply of waffles increasesSupply of waffles decreasesDemand for waffles decreasesDemand for waffles increases30s