Economics Test Review

A supply curve is directly affected by:

What effect would a decrease in the price of cocoa have on the Cadbury chocolate market?

A decrease in the price of mangoes is likely to decrease the demand for:

Which of the following scenarios could cause the following shift?

In this figure, the opportunity cost of producing one moreaudio tape at point “a” is:

This graph helps demonstrate the law of:

If achieving one economic goal makes another easier to achieve, the goals are:

The branch of economics that studies the choices of individual households and firms is:

Which of the following could cause the demand curve to shift to the right?

When the price is below the equilibrium price, there will be a(n):

If a government wants to set a ceiling price, it should set it:

Which of the following is an example of a normative statement?

The categories of tangible resources are:

Which form of government is at the extreme right?

Production decisions are made by a small group of political leaders in which form of economy?

Shaded area "B" in this graph represents a(n):