How does a competitive market work? – Lesson 1

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How does a competitive market work? – Lesson 1

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Question 1 de 15

1. Question
What is the law of demand?
- expresses the increasing relationship between the market price and the quantities demanded.
- expresses the relationship of dependence between companies and a market demand.
- expresses the decreasing relationship that exists between the market price and the quantities demanded.
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Inexact
Question 2 de 15

2. Question
What is the law of supply?
- expresses the increasing relationship between the market price and the quantities offered.
- expresses the relationship of dependence of consumers on the market supply.
- expresses the decreasing relationship that exists between the market price and the quantities offered.
Exact

Inexact
Question 3 de 15

3. Question
What is “demand”?
- The willingness and ability for a person to purchase.
- The money that a person has to purchase.
- The amount of people who are willing to purchase.
Exact

Inexact
Question 4 de 15

4. Question
What is “quantity demanded”?
- The number of people willing to purchase.
- The quantity of an economic good or service desired.
- The quantity of goods sold in a year.
Exact

Inexact
Question 5 de 15

5. Question
What is “supply”?
- The relationship between the amount of purchased items, and the amount of items available.
- The relationship between the good’s price and how much businesses are willing to provide.
- The number of people available to provide a good.
Exact

Inexact
Question 6 de 15

6. Question
What is “Quantity supplied”?
- The number of people available to sell a good.
- The goods that are sold per year fixed at a certain price.
- The amount of goods business provide at a specific price.
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Inexact
Question 7 de 15

7. Question
What could create a drop in the price of coffee?
- An increase in yield
- An increase in demand
- A decrease in the use of GM
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Inexact
Question 8 de 15

8. Question
How does the use of GM change the supply of coffee?
- It decreases the supply.
- It doesn’t change the supply.
- It increases the supply.
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Inexact
Question 9 de 15

9. Question
Was the harvest of coffee increasing or decreasing between 2017-2018?
- Increasing
- Not changing
- Decreasing
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Inexact
Question 10 de 15

10. Question
How does an increase in the demand of milk in China affect the price of butter in France?
- It increases
- It doesn’t change
- It decreases
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Question 11 de 15

11. Question
Translate “Marge de manouevre“
- Creepath
- Lawroad
- Leeway
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Question 12 de 15

12. Question
Translate “Surenchérir”.
- Overprice
- Extrecost
- Outbid
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Question 13 de 15

13. Question
Translate “baisse de prix”.
- Drop in price
- Lower in cost
- Under the number
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Question 14 de 15

14. Question
Translate “récolte”.
- Taking
- Harvest
- Yield
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Question 15 de 15

15. Question
Translate “déséquilibre”.
- Uncosted
- Underwhelmed
- Imbalance
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Inexact

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