CSET Business Subtest II (176): Practice & Study Guide  /  Business Courses

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CSET Business - Microeconomics Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. A natural disaster strikes country A, destroying bakeries across half of the country. How will this affect the supply of cakes?

Question 2 2. Why do economists use a a demand schedule?

Question 3 3. The market for coffee is currently in equilibrium. If the demand for coffee decreases, which of the following would LEAST likely happen?

Question 4 4. How do economic drivers relate in the supply of a good or service?

Question 5 5. A shift of the supply curve to the right indicates which of the following?

Page 2

Question 6 6. A shift in the supply of a good or service is impacted by all of the following except:

Question 7 7. What happens when the demand for and supply of a good increase simultaneously?

Question 8 8. What is a market supply schedule?

Question 9 9. What does the law of demand state?

Question 10 10. What is a market demand schedule?

Page 3

Question 11 11. The demand curve below shows the demand for bananas at different prices. According to this demand curve, what quantity of bananas would be demanded at a price of 40 cents?

Question 12 12. This image shows the market demand schedule for bananas. If the price goes from 60 cents to 40 cents, how many more bananas will be purchased per week?

Question 13 13. What is quantity demanded?

Question 14 14. An increase in household incomes across the nation leads to an increase for the demand for coffee. How would the demand/supply curve change?

Question 15 15. Which of the following statements is TRUE?

Page 4

Question 16 16. What is quantity supplied?

Question 17 17. What is the correct relationship between price and quantity demanded shown by the law of demand?

Question 18 18. Which of the following statements is inaccurate regarding the demand curve?

Question 19 19. Which of the following factors would NOT lead to a shift in the demand for an item?

Question 20 20. Which of the following statements is FALSE regarding the supply curve?

Page 5

Question 21 21. The image shows the supply schedule for Bob's Low-Rider Lawn Mowing services. Which of the following statements is true regarding the supply of lawn cuts at a price of $25?

Question 22 22. Which of the following statements is FALSE regarding a supply schedule?

Question 23 23. An improvement in technology affecting businesses in country A will most likely lead to which of the following?

Question 24 24. The _____ of a good, the _____ that suppliers are willing and able to supply.

Question 25 25. What does a shift of the demand curve to the right indicate?

CSET Business - Microeconomics Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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