Market Equilibrium and disequilibrium
Assessment
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Aimee Ross
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Business
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9th - 11th Grade
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400 plays
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Medium
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11 questions
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1.
Multiple Choice
Define market equilibrium
Where quantity demanded is less than quantity supplied
Where quantity demanded is greater than quantity supplied
Where quantity demanded is equal to quantity supplied
2.
Multiple Choice
Define a shortage
Where quantity demanded is less than quantity supplied
Where quantity demanded is greater than quantity supplied
Where quantity demanded is equal to quantity supplied
3.
Multiple Choice
Define a surplus
Where quantity demanded is less than quantity supplied
Where quantity demanded is greater than quantity supplied
Where quantity demanded is equal to quantity supplied
4.
Multiple Choice
Which statement below would be the most correct to describe the equilibrium price?
$600
$600 per month
$500 per month
$700
5.
Multiple Choice
Which statement below would be the most correct to describe the equilibrium quantity ?
15 rental houses
15000
15000 rental houses
15
6.
Multiple Choice
If the current price is $800, which of the following would be the best description for the situation that exists in the market
There is a shortage of 12 houses
There is a shortage of 12000 houses
There is a surplus of 12
There is a surplus of 12000 houses
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