12th Grade Economics Quizzes, Questions & Answers
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Can you identify with Econ 202? Econ is shortform for economics. With this quiz, you must be aware of a market situation in which a few large firms are called, what is an oligopolistic market, the two major types of government...
Questions: 24 | Attempts: 830 | Last updated: Mar 21, 2023
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Sample QuestionA market situation in which there are a few large firms is called
Explore the dynamics of labor economics and international trade through this quiz. Assess skills in understanding migration impacts, factor price equalization, and productivity differences across countries, relevant for students...
Questions: 20 | Attempts: 191 | Last updated: Mar 27, 2023
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Sample Question1. Assume that the housekeeping is a perfectly competitive global industry. A housekeeper from the Philippines is contemplating immigrating to Singapore in search of higher wages. Suppose that the housekeeper earns approximately $2,000 annually and expects to find a job in Singapore worth approximately $5,000 annually for a period of 3 years. Furthermore, assume that the cost of living in Singapore is $500 more per year than at home. 1) What can we say about the productivity of housekeepers in Singapore versus the Philippines?
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The EC 201 Exam 2 P focuses on fundamental economic concepts such as supply, demand, and equilibrium. It evaluates understanding through scenarios and graphical data interpretation, enhancing skills crucial for academic and...
Questions: 34 | Attempts: 782 | Last updated: Mar 21, 2023
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Sample QuestionThe most important concepts in economics, according to the textbook, are supply, demand, and the
Economics is a social science that explores the dynamics of a market involving consumers and the consumption of goods and services. Take the quiz below to learn about monopoly of markets and perfect competition.
Questions: 39 | Attempts: 813 | Last updated: Mar 20, 2023
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Sample QuestionAssume the market for organic produce sold at farmers markets is perfectly competitive. All else equal,as equilibrium price of the produce and sell organic produce at farmers' markets, what is likely to happen to the equilibrium price of the produce and profits of the organic farmers in the long run?
Explore the dynamics of labor distribution, trade impacts, and price shifts in the 'Awesome quiz on Agriculture'. This quiz assesses understanding of economic principles in manufacturing and agriculture, exploring how trade...
Questions: 20 | Attempts: 1338 | Last updated: Aug 29, 2023
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Sample QuestionSuppose that the wage is $20 per hour in a two-sector (manufacturing and agriculture) specific-factors model. Currently, the prices of manufactured and agricultural outputs are $5 and $1, respectively; the marginal product of labor in the manufactured sector is 6 units per hour; and the marginal product of labor in the agricultural sector is 10 units per hour. What will happen to the distribution of labor between the two sectors?
this the second of 3 sections to review for a general economics senior in high school final
Questions: 30 | Attempts: 135 | Last updated: Jul 25, 2024
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Sample QuestionThe curve that shows the direct relationship between price and the quantity of the product is called the
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