422705
Beschreibung
Quiz von jackexamtime, aktualisiert more than 1 year ago
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Erstellt von jackexamtime
vor fast 11 Jahre
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Frage 1
Frage
How do you arrive at equilibrium?
Antworten
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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
Frage 2
Frage
Why is equilibrium important to consumers?
Antworten
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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
Frage 3
Frage
When there is excess supply:
Antworten
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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
Frage 4
Frage
When demand increases:
Antworten
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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 increases, and the equilibrium quantity increases
Frage 5
Frage
When demand decreases:
Antworten
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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
Frage 6
Frage
When supply decreases:
Antworten
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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 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
Frage 7
Frage
When supply increases:
Antworten
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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 increases, and the equilibrium quantity increases
-
The equilibrium price decreases, and the equilibrium quantity increases
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