How does a competitive market work? – Séance 4
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Question 1 de 15
1. Question
At the petrol station in the video, how would you describe the price on a busy day?
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Question 2 de 15
2. Question
… and on a cold quiet night?
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Question 3 de 15
3. Question
What law does the petrol station apply?
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Question 4 de 15
4. Question
What factor does the petrol station NOT take into account?
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Question 5 de 15
5. Question
On a graph, what is the Y data also called?
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Question 6 de 15
6. Question
On a graph, what is the X data also called?
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Question 7 de 15
7. Question
What happens when supply = demand?
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Question 8 de 15
8. Question
What happens when supply < demand?
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Question 9 de 15
9. Question
What happens when supply > demand?
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Question 10 de 15
10. Question
What is a price ceiling?
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Question 11 de 15
11. Question
What is a price floor?
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Question 12 de 15
12. Question
What happens when the price floor is above the equilibrium price?
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Question 13 de 15
13. Question
What happens when the price floor is below the equilibrium price?
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Question 14 de 15
14. Question
What happens when the price ceiling is above the equilibrium price?
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Question 15 de 15
15. Question
What happens when the price floor is below the equilibrium price?
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