Welcome to Macroeconomics 101 Quiz! If you’ve been tasked with diving into the study of microeconomics, then don’t fret. This quiz was developed just for people like you, who might find it difficult to come to grips with the study by which we analyze how firms and individuals decide to allocate scarce resources. Why don’t you take the quiz and see how much you know about it starting off? We’ll guide you through it!
Price Ceiling
Quota
Price Floor
Ration
Price Ceiling
Marginal Return
Short Run Cost
Price Floor
Contacting distributors and checking that they are abiding by the set prices.
Competing with other venders who offer the same product.
Government's set of checks and balances on a capitalist system.
Setting a minimum, maximum, or exact price for a good.
Bananas and whip cream
Rent
Electricity
Decrease.
Increase.
Remain the same.
Everyone loves banana pie.
Elastic good
Inelastic good
Expensive good
Price Elasticity of Demand.
Price Control.
Income Elasticity of Demand.
Income Control.
Large changes are made.
Expensive changes are made.
Small changes are made.
Cheap changes are made.
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