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6th

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Economics Assessment

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28 questions

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  • 1. Multiple Choice
    5 minutes
    1 pt

    In a market economy, the characteristic of a product that is most likely to be determined by the interaction of supply and demand is the product's

    Price

    Quality

    Production cost

    Usefulness to society

  • 2. Multiple Choice
    5 minutes
    1 pt

    If supply of a product is abundant, but demand is low, how would the price be affected?

    It would go up

    It would go down

    It would stay the same

    It would fluctuate

  • 3. Multiple Choice
    5 minutes
    1 pt

    If a drought severely reduces the amount of corn available to consumers, what would you expect to happen?

    The demand for corn would go down

    The price of corn would stay the same

    The price of corn would go down

    The price of corn would go up

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