Read the following question

Students will be happier with Mrs. Baxter.

Answer the following question

Pt A is the quantity supplied at a given price; line S = the total supply

Economics is defined as a study of the

ways people obtain their wants with limited resources

Answer the following question

Quantity demanded would increase.

Answer the following question

The supply of a product at time 1

A console game, ZOMBIES!, has come out recently. It sells for $60. Which of these might lower the price of the game?

A bad article about ZOMBIES from a well-known reviewer, causes sales 2 drop

Answer the following question

He won't have as much $ for college, because he will have to pay 4 trailer

Which of the following best addresses the economic question For whom to produce?

InFocus conducts focus groups to determine its target market.

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ECON Exam Practice

18 termsStudBud Administration22 plays

Economics basics sneads high school

Flashcards18 cardsFPractice quizPHost liveL

Questions 18

Answers

1
Economics is the study of choices
False
True
2
Read the following question
Students may not bring their books to class.
Students will be happier with Mrs. Baxter.
Parents may complain about grades.
Mrs. Baxter will have to make the test harder.
3
When "bell-bottom" pants became fashionable in the 1970s, the demand curve for bell-bottoms
became equal to zero
shifted to the right
stayed the same
shifted to the left
4
Jen is starting a nonprofit store. She will sell handmade African scarves. Which economic question(s) are left?
What to produce? and For whom to produce?
How to produce?
For whom to produce?
What to produce? and How to produce?
5
When price increases, quantity supplied
increases
decreases
stays the same
becomes zero
6
Answer the following question
Pt A is quantity demanded at a given price; line S = total supply
Pt A is the quantity supplied at a given price; line S = the total supply
Pt A is the quantity demanded at a given price; line S =the equilibrium
Pt A is the quantity supplied at a given price; S =the demand
7
Answer
2
1
3
4
8
What is the best way to do well on quizzes?
Take notes
Sleep in class
9
Economics is defined as a study of the
ways people obtain their wants with limited resources
properties of money
ways businesses and government operates
best ways to increase the profits of a company
10
read the question below
A scarce resource
An opportunity cost
A long-term benefit
A short-term cost
11
When Hurricane Katrina shut down many oil refineries, the supply curve for oil
shifted to the right
shifted to the left
stayed the same
became equal to zero
12
Answer the following question
Quantity demanded would reset to zero.
Quantity demanded would remain the same.
Quantity demanded would decrease.
Quantity demanded would increase.
13
Every choice you make has a cost
True
False
14
Answer the following question
The demand for a product at time 1
The supply of a product at time 1
The demand for a product at time 2
The supply of a product at time 2
15
A console game, ZOMBIES!, has come out recently. It sells for $60. Which of these might lower the price of the game?
A positive article about ZOMBIES causes sales to rise
A bad article about ZOMBIES from a well-known reviewer, causes sales 2 drop
A significant increase in the cost of a competitor's game, U.S. Zombies
A large rise in the cost of gas, causing shipments of the game to slow down
16
Answer
The price would drop to 0.5.
The quantity would be 0.5.
The price would rise to 2.
The quantity would be 0.
17
Answer the following question
He will not have to drive back and forth from home, & he'll save gas $
He won't have as much $ for college, because he will have to pay 4 trailer
18
Which of the following best addresses the economic question For whom to produce?
InFocus conducts focus groups to determine its target market.
Lady Zigzag's agent makes concert tickets available on a new smartphone app
Compass Learning Group contracts a team from India to write a course.
Head Tome runs a social networking site with incorporated advertising.

ECON Exam Practice Flashcards | StudBud

ECON Exam Practice

18 termsStudBud Administration22 plays

Economics basics sneads high school

Flashcards18 cardsFPractice quizPHost liveL

Questions 18

Answers

1
Economics is the study of choices
False
True
2
Read the following question
Students may not bring their books to class.
Students will be happier with Mrs. Baxter.
Parents may complain about grades.
Mrs. Baxter will have to make the test harder.
3
When "bell-bottom" pants became fashionable in the 1970s, the demand curve for bell-bottoms
became equal to zero
shifted to the right
stayed the same
shifted to the left
4
Jen is starting a nonprofit store. She will sell handmade African scarves. Which economic question(s) are left?
What to produce? and For whom to produce?
How to produce?
For whom to produce?
What to produce? and How to produce?
5
When price increases, quantity supplied
increases
decreases
stays the same
becomes zero
6
Answer the following question
Pt A is quantity demanded at a given price; line S = total supply
Pt A is the quantity supplied at a given price; line S = the total supply
Pt A is the quantity demanded at a given price; line S =the equilibrium
Pt A is the quantity supplied at a given price; S =the demand
7
Answer
2
1
3
4
8
What is the best way to do well on quizzes?
Take notes
Sleep in class
9
Economics is defined as a study of the
ways people obtain their wants with limited resources
properties of money
ways businesses and government operates
best ways to increase the profits of a company
10
read the question below
A scarce resource
An opportunity cost
A long-term benefit
A short-term cost
11
When Hurricane Katrina shut down many oil refineries, the supply curve for oil
shifted to the right
shifted to the left
stayed the same
became equal to zero
12
Answer the following question
Quantity demanded would reset to zero.
Quantity demanded would remain the same.
Quantity demanded would decrease.
Quantity demanded would increase.
13
Every choice you make has a cost
True
False
14
Answer the following question
The demand for a product at time 1
The supply of a product at time 1
The demand for a product at time 2
The supply of a product at time 2
15
A console game, ZOMBIES!, has come out recently. It sells for $60. Which of these might lower the price of the game?
A positive article about ZOMBIES causes sales to rise
A bad article about ZOMBIES from a well-known reviewer, causes sales 2 drop
A significant increase in the cost of a competitor's game, U.S. Zombies
A large rise in the cost of gas, causing shipments of the game to slow down
16
Answer
The price would drop to 0.5.
The quantity would be 0.5.
The price would rise to 2.
The quantity would be 0.
17
Answer the following question
He will not have to drive back and forth from home, & he'll save gas $
He won't have as much $ for college, because he will have to pay 4 trailer
18
Which of the following best addresses the economic question For whom to produce?
InFocus conducts focus groups to determine its target market.
Lady Zigzag's agent makes concert tickets available on a new smartphone app
Compass Learning Group contracts a team from India to write a course.
Head Tome runs a social networking site with incorporated advertising.