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by BlastRoom
Advanced review of market forces, elasticity, competition, and firm decisions.
#us_hs_economics
40 questions
One question set, multiple game modes. Tap any game to see it in action. Not sure which to pick?
Answer to place stones and capture territory.
Outrun the snow together.
Earn blasts, then hunt the other team.
Answer to earn energy, then climb.
The class blasts through walls together.
Bid on mystery lots. Most money wins.
Sell tours. Nice, standard, or a total scam.
Answer, restock, and serve the rush.
More correct answers pulls the rope your way.
Answer, then shoot down the alien wave.
Answer, then tap to leap the frozen ridge.
The figure shows two demand curves, D1 and D2, with supply unchanged. What change does the figure show?
What caused the movement shown by the arrow on the graph?
The figure shows two supply curves, S1 and S2, with demand unchanged. Which statement is supported?
What change produced the movement shown by the arrow on the graph?
The figure shows a new demand curve, D2. How should the market change be described?
The figure shows a new supply curve, S2. What does this indicate?
Which result accompanies the movement shown by the arrow on the graph?
Which result accompanies the movement shown by the arrow on the graph?
The figure shows supply shifting left while demand stays at D. Compared with the original equilibrium, the new equilibrium has:
The figure shows demand shifting right while supply stays at S. Compared with the original equilibrium, the new equilibrium has:
The figure shows supply shifting right while demand stays unchanged. What happens to equilibrium?
The figure shows demand shifting left with supply unchanged. What happens to equilibrium?
After the price of electric scooters falls, fewer consumers buy gasoline scooters. Which determinant shifted demand for gasoline scooters?
A popular fitness app makes running more fashionable, and sales of running shoes rise at every price. What determinant changed?
A bakery's flour price rises sharply, so it offers fewer loaves at every possible bread price. What shifted?
Families expect a major hurricane to arrive next week and buy extra batteries today. Which demand determinant caused the current increase?
A new machine lets a factory assemble bicycles with fewer worker-hours per bike. What is the likely market effect?
A town gains 20,000 new residents, and more people want apartments at every rent level. Which determinant changed?
A coffee shop raises the price of a latte from $4 to $5, and quantity demanded falls only slightly. What is the best classification?
A concert promoter lowers ticket prices 10%, and ticket sales rise 30%. What happens to total revenue?
Customers keep buying a prescription medicine even after its price rises. Which feature most likely makes its demand inelastic?
A movie theater cuts popcorn prices, and quantity demanded rises enough that total revenue from popcorn stays the same. What is true?
A seller raises the price of a luxury watch 15%, and quantity demanded falls 25%. What happens to total revenue?
Over several months, farmers cannot quickly expand the acreage planted with strawberries even as price rises. In the short run, strawberry supply is likely:
Hundreds of wheat farmers sell an identical product, and no single farmer can influence market price. Which market structure is this?
Several major airlines watch one another closely when changing baggage fees and ticket prices. Which market structure best fits?
Many restaurants compete in one city by offering different menus, decor, and dining experiences. What structure best describes this market?
A local water utility is the sole seller because building duplicate pipe networks would be extremely costly. What structure is most likely?
Why do firms in perfect competition earn zero economic profit in the long run?
A firm sells a branded product that differs somewhat from rivals' products, giving it limited control over its price. Which structure fits?
A company owns an exclusive patent for a lifesaving device, preventing rivals from legally producing the same device for a period. What is the barrier to entry?
Four firms account for almost all sales in a market, and each considers rivals' likely reactions before changing output. What feature is being described?
A food truck pays $900 monthly rent and $3 per meal for ingredients. It sells meals for $8 each. How many meals must it sell to break even?
A firm sells 400 backpacks for $30 each. Its fixed cost is $3,000 and variable cost is $18 per backpack. What is its profit?
A bakery's fixed cost is $500, and its variable cost is $2 per cake. If it makes 150 cakes, what is total cost?
A seller earns $2,400 in total revenue from 300 identical units. What is the price per unit?
A firm has fixed costs of $1,200, sells each unit for $14, and has variable cost of $8 per unit. What is its break-even output?
A city sets a maximum rent of $900 when the market-clearing rent would be $1,300. What will likely result?
The government sets a minimum price for milk above its market-clearing price. What is the likely result?
At a legally imposed price ceiling, buyers want 900 concert tickets but sellers offer only 600. What is the shortage?
Crack the passcode before the zombies get in.
Answer, then swat bugs for bonus points.
Race through questions at your own speed.
Same question on every screen. Fastest wins.
Pick a tile, answer, hit bonuses and steals.
Georgia Milestones Economics EOC Review
60 questions
