Price
Quantity Demanded
Quantity Supplied
(select from this menu)
binding or effective.
non-binding or not effective.
(select from this menu)
reduce the quantity bought and sold.
increase the quantity bought and sold.
have no effect on the market.
(select from this menu)
increase the price consumers pay.
decrease the price consumers pay.
have no effect on the market.
(select from this menu)
all consumers who want to purchase the good
only those consumers who are still able to buy the good
all producers who want to sell the good
only those producers who are still able to sell the good
everyone in the market
no one in the market
only the government
better off.
(select from this menu)
all consumers who want to purchase the good
only those consumers who are still able to buy the good
all producers who want to sell the good
only those producers who are still able to sell the good
everyone in the market
no one in the market
only the government
worse off.
Directions:
Provide an answer for each question above and then check your answers.
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FINISHED WITH ACTIVITY