Looking at the production, consumption, and transfer of wealth

Which of the following is an example of Income Inequality?

A CEO has just gotten a raise, while his workers have taken a pay cut

Which of the following is an example of Educational Inequality?

A school in a poorer area does not have the money to buy new textbooks

The state of not having enough of something that is desired

Which of the following is an example of Inequality in Life Chances?

A woman is paid less than her male coworkers for the same work/experience, A neighborhood puts a requirement in place that prevents people from coming

What is the Law of Supply?

As the price of a good increases, the Quantity Supplied will increase

What is the Law of Demand?

As the price of a good increases, the Quantity Demanded will decrease

If the Memphis Grizzlies were to sign Lebron James to the team, what would happen to the S&D graph for game tickets?

The Demand Curve would shift up/to the right

If a lot of people were to move away from Memphis, what would happen to the S&D graph for meat in Memphis?

The Demand curve would shift down/to the left

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Review Quiz 2/22-2/23

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Questions 10

Answers

1
What is Economics
All of the above
Lokking at the Stock Market and how Stocks are traded
Looking at the production, consumption, and transfer of wealth
Study of making money
2
Which of the following is an example of Income Inequality?
A lack of Smartboards at lower income schools
A CEO has just gotten a raise, while his workers have taken a pay cut
All of the above
A white person is more likely to have Health Insurance than a Black person
3
Which of the following is an example of Educational Inequality?
A school in a poorer area does not have the money to buy new textbooks
All of the above
Workers have been losing money while the top 1% has been getitng more
A child that lives in a wealthy neighborhood has more access to internships
4
What is Scarcity?
The state of not having enough of something that is desired
The state of being not equal
A lack of sharing resources
All of the above
5
Which of the following is an example of Inequality in Life Chances?
A woman is paid less than her male coworkers for the same work/experience
A neighborhood puts a requirement in place that prevents people from coming
A school that performs poorly on its state tests lost money
All of the above
6
What is the Law of Supply?
As the price of a good decreases, the Quantity Supplied will increase
As the price of a good increases, the Quantity Supplied will decrease
As the price of a good increases, the Quantity Supplied will increase
None of the above
7
What is the Law of Demand?
As the price of a good increases, the Quantity Demanded will increase
As the price of a good decreases, the Quantity Demanded will decrease
As the price of a good increases, the Quantity Demanded will decrease
None of the above
8
If the Memphis Grizzlies were to sign Lebron James to the team, what would happen to the S&D graph for game tickets?
The Supply Curve would shift down/to the left
The Demand Curve would shift down/to the left
The Supply Curve would shift up/to the right
The Demand Curve would shift up/to the right
9
What is Inequality?
The state of being in equality
None of the above
The state of not being equal
Not having enough for everyone
10
If a lot of people were to move away from Memphis, what would happen to the S&D graph for meat in Memphis?
The Supply curve would shift down/to the left
The Demand curve would shift down/to the left
The Supply curve would shift up/to the right
The Demand curve would shift up/to the right

Review Quiz 2/22-2/23 Flashcards | StudBud