422705
Descrição
Quiz por jackexamtime, atualizado more than 1 year ago
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Criado por jackexamtime
mais de 10 anos atrás
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Questão 1
Questão
How do you arrive at equilibrium?
Responda
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It is where supply exceeds demand
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It is where demand is equal to supply
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It is where demand exceeds supply
Questão 2
Questão
Why is equilibrium important to consumers?
Responda
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Consumers want to know the price level
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Consumers do not want shortages of goods they demand
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Consumers do not want excess supply
Questão 3
Questão
When there is excess supply:
Responda
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There is downward pressure on prices
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There is upward pressure on prices
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There is downward pressure on quantity supplied
Questão 4
Questão
When demand increases:
Responda
-
The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
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The equilibrium price increases, and the equilibrium quantity increases
Questão 5
Questão
When demand decreases:
Responda
-
The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price increases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
Questão 6
Questão
When supply decreases:
Responda
-
The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
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The equilibrium price increase, and the equilibrium quantity decreases
Questão 7
Questão
When supply increases:
Responda
-
The equilibrium price increases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price decreases, and the equilibrium quantity increases
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