Quiz
Ap Microeconomics Quiz
Questions in this quiz (10)
1Perfect Competition is the opposite of?
- AElastic Markets
- BMonopolies
- CMixed Economy
- DMoney Market
2If a product is inelastic it should have a coefficient
- Agreater than 1
- Bless than 1
- CEqual or less than 1
- D0
3If a product is inelastic it means that
- AQuantity is sensitive to a change of price
- BQuantity is insensitive to a change of price.
- CThe product cannot change price
- DThe product changes price quickly
4If a product has an elastic Demand
- AQuantity is sensible to a change in price.
- BQuantity is insensible to a change in price.
- CA change in price ruins the market.
- DThe market is monopolised.
5If a product is perfectly inelastic
- AChange in quantity doesn't alter the quantity demanded
- BOnly rice is perfectly inelastic
- CCompetitors pursuit changing the market
- DChange in price doesn't alter the quantity demanded
6Substitute Goods have a
- ANegative cross elasticity of demand
- BPrice related cross elasticity of demand
- CPositive cross elasticity of demand
- DHas none cross elasticity of demand
7Complement Goods have a
- ANegative cross elasticity of demand
- BPositive cross elasticity of demand
- CEqual cross elasticity of demand
- DNo cross elasticity of demand
8An example of a Weak Substitute could be
- AIphone and Samsung
- BCoca Cola and Tea
- CCars and tiers
- DPasta and Raviolis
9An example of a Strong Substitute could be
- AApple and Samsung
- BCoca Cola and Tea
- CPasta and Raviolis
- DFerrari and Chevrolet
10Companies with elastic goods should
- AIncrease prices
- BDecrease prices
- CNo change
- DBuy two more companies
Information
- Description
- Ap Micro economics quiz
- Author
- 2016: Alejandro
- Language
- English
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