Investing and Financial Markets — Unit test Answers
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Look at the chart comparing the price of graphic T-shirts to the quantity supplied.
A
demand curve.B
demand schedule.C
supply curve.D
supply schedule.2
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A
elasticityB
qualityC
timeD
quantity3
When prices drop below the point where supply and demand meet, it results in
A
coordination.B
disequilibrium.C
equilibrium.D
production.4
A possible result of disequilibrium is
A
excess demand.B
lower demand.C
fixed prices.D
stable availability.5
What does elasticity measure in economics?
A
how the amount of a good changes when the producer hires more employeesB
how the amount of a good changes when the producer uses new materialsC
how the amount of a good changes when its price goes up or downD
how the amount of a good changes when its distribution expands6
The graph shows a point of equilibrium.If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?
A
The supply needs to increaseB
The price needs to decreaseC
The price needs to increaseD
The demand needs to increase7
Equilibrium occurs when supply and demand coordinate to
A
set excess demand.B
set prices and production.C
maintain excess supply.D
raise prices and production.8
How do bank loans help the nation’s economy?
A
They ensure consumer spending and confidence.B
They ensure the success of new businesses.C
They allow businesses to expand and improve.D
They allow consumers to quickly pay off debts.9
Why is pure competition considered an unsustainable system?
A
Price differentiation is often too minimal to matter.B
Few barriers exist to entry, meaning that the market inevitably floods.C
Consumers cannot distinguish between products.D
Producers cannot make a profit if they keep dropping their prices.Did you find these answers helpful?
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