WGU D089 PRINCIPLES OF ECONOMICS OA
EXAM WITH 100% CORRECT AND VERIFIED
ANSWERS
Correct 28
100%
Incorrect 00
Your answers
1 of 28
Term
What was the price elasticity of supply for the college basketball
team's jersey?
Give this one a try later!
Elastic Inelastic
, Reduction of As price goes up, quantity
surplus
supplied goes up.
Don't know?
2 of 28
Definition
The price where the quantity demanded is equal to the
quantity supplied
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equilibrium price Quantity Demanded (Qd)
equilibrium quantity demand elasticity
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3 of 28
Definition
A graphical representation of the relationship between the
price of a good and the quantity demanded
, Give this one a try later!
What causes a change in a
market's equilibrium? Quantity Demanded (Qd)
What is a demand curve? What is a demand schedule?
Don't know?
4 of 28
Definition
The demand curve shifts to the right, implying a willingness
for consumers to pay more.
Give this one a try later!
Which demand factor is represented by the sale of the apparel for the
small college basketball team?
Which concept refers to the amount of a good or service consumers
both desire and are able to purchase at a variety of price levels and at
a given time?
Which response should be expected if a competitive coffee market is
in
equilibrium and consumers in the market see an increase of income
across the board?
EXAM WITH 100% CORRECT AND VERIFIED
ANSWERS
Correct 28
100%
Incorrect 00
Your answers
1 of 28
Term
What was the price elasticity of supply for the college basketball
team's jersey?
Give this one a try later!
Elastic Inelastic
, Reduction of As price goes up, quantity
surplus
supplied goes up.
Don't know?
2 of 28
Definition
The price where the quantity demanded is equal to the
quantity supplied
Give this one a try later!
equilibrium price Quantity Demanded (Qd)
equilibrium quantity demand elasticity
Don't know?
3 of 28
Definition
A graphical representation of the relationship between the
price of a good and the quantity demanded
, Give this one a try later!
What causes a change in a
market's equilibrium? Quantity Demanded (Qd)
What is a demand curve? What is a demand schedule?
Don't know?
4 of 28
Definition
The demand curve shifts to the right, implying a willingness
for consumers to pay more.
Give this one a try later!
Which demand factor is represented by the sale of the apparel for the
small college basketball team?
Which concept refers to the amount of a good or service consumers
both desire and are able to purchase at a variety of price levels and at
a given time?
Which response should be expected if a competitive coffee market is
in
equilibrium and consumers in the market see an increase of income
across the board?
