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Principles of Microeconomics Syllabus Resource & Lesson Plans Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. At which point do the supply and demand curves meet?

Question 2 2. _____ is the study of business and consumers, while _____ is the study of the economy as a whole.

Question 3 3. Why do businesses care about microeconomic assumptions about consumer behavior?

Question 4 4. Which of the following statements about goods and services in a monopolistic competition is TRUE?

Question 5 5. Transitioning from baking to catering is considered which of the following?

Question 6 6. How does advertising impact the supply and demand curve?

Question 7 7. If a good has a cost, then it is considered

Question 8 8. Good A and Good B are complementary goods. If the price of Good A rises, what is likely to happen to Good B?

Question 9 9. What does the circular flow model of the economy illustrate?

Question 10 10. Governments have sought to limit the supply of drugs with all of the following strategies, EXCEPT:

Question 11 11. Which of the following is NOT a good definition or example of short-run production?

Question 12 12. Which of the following describes a bond?

Question 13 13. When is a good considered to have an elastic supply?

Question 14 14. How does price elasticity of demand and cross price elasticity of demand differ?

Question 15 15. What would happen to the demand curve when a large segment of the population would have a decreased demand for a product?

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Principles of Microeconomics Syllabus Resource & Lesson Plans Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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