ECO 100 ECO100 WEEK 2 QUIZ ANSWERS (2020) - STRAYER
Strayer ECO 100 Week 2 Quiz Answers (2020)
1. What is the term for the total number of units that are purchased at that price?
2. A supply curve is a graphical illustration of the relationship between price, shown on the vertical axis, and ____________, shown on the horizontal axis.
3. In economics, the demand for a good refers to the amount of the good that people:
4. When economists talk about supply, they are referring to a relationship between price received for each unit sold and the _________________.
5. A demand curve shows the relationship between price and _________________ on a graph.
6. What is the term economists use to refer to the relationship that a higher price leads to a lower quantity demanded?
7. Which of the following would reduce the supply of microcomputers?
8. The nature of demand indicates that as the price of a good increases:
9. According to the law of supply:
10. The ____________ is the quantity where quantity demanded and quantity supplied are equal at a certain price.
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