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- 1. Multiple Choice
What is the Equilibrium Price?1234 - 2. Multiple ChoiceWhat is the Equilibrium Quantity?50607080
- 3. Multiple Choice
When quantity supplied is smaller than quantity demanded, you have a ____________.
shortage
surplus
deficit
equilibrium
- 4. Multiple Choice
Point at which supply and demand curve intersect each other
price ceiling
excess demand
equilibrium
disequilibrium
- 5. Multiple ChoiceEquilibrium price is the price at which the quantity of a product demanded by consumers and the quantity supplied by producersare different.are equal.is higher for the product demanded.is higher for the product supplied.
- 6. Multiple ChoiceWhat is the equilibrium quantity in this graph?$1.50$1.00600800
- 7. Multiple ChoiceWhat does this graph show?ShortageSurplusSupply TableEquilibrium
- 8. Multiple ChoiceWhat is the equilibrium quantity in this graph?$1.50$1.00600800
- 9. Multiple ChoiceAt the price of 1.00 there is ashortage of 200surplus of 200shortage of 400surplus of 400
- 10. Multiple ChoiceWhen buyers purchase exactly as much as sellers are willing to sell, what is reached?Supply and DemandExcess DemandEquilibriumPrice Floor
- 11. Multiple ChoiceAt the equilibrium price, how many slices of pizza will be sold?150200250300
- 12. Multiple ChoiceThe price of pizza is $2.50. At the end of the day, how many unsold slices of pizza are left?None50100200
- 13. Multiple ChoiceAt which price is equilibrium?$1.00$1.25$1.50$1.75
- 14. Multiple ChoiceAt which quantity does supply and demand reach equilibrium?500600700800
- 15. Multiple ChoiceWhen supply falls, what happens to quantity demanded in equilibrium?Quantity demanded increasesQuantity demanded decreasesA change in supply has no effect on quantity demanded
- 16. Multiple Choice
What happens to the equilibrium price and quantity?
P & Q increase
P & Q decrease
P increases, Q decreases
P decreases, Q increases
- 17. Multiple Choice
What happens to the equilibrium price and quantity?
P & Q increase
P & Q decrease
P increases, Q decreases
P decreases, Q increases
- 18. Multiple Choice
Supply shifts as shown. Producers do not change the price. What occurs?
A shortage
A surplus
A price celing
a price floor
- 19. Multiple ChoiceOn a graph with both a supply and demand curve, where are shortages found?Above the equilibrium price.Below the equilibrium price.
- 20. Multiple ChoiceOn a graph with both a supply and demand curve, where are surpluses found?Above the equilibrium price.Below the equilibrium price.
- 21. Multiple ChoiceWhat is another name for the equilibrium price?price equalizer.market equilibrium price.market clearing price.Quantity Demanded
- 22. Multiple ChoiceIf the Price is $2, there will be...A surplus of 45A shortage of 85A shortage of 45A surplus of 85
- 23. Multiple ChoiceOn a graph with both a supply and demand curve, where are shortages found?Above the equilibrium price.Below the equilibrium price.
- 24. Multiple Choice
When regular market forces are at work, prices below equilibrium will be
bid down due to competition between buyers
bid down due to competition between sellers
bid up due to competition between buyers
bid up due to competition between sellers
- 25. Multiple Choice
In a market economy, equilibrium is determined
through the interaction of buyers and sellers
when the government sets a stable price
by the buyers
by the sellers
- Answer choicesTagsAnswer choicesTags