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Economics Unit 1

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Helen Lin

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Video 03Online version Economics Unit 1 by Helen Lin 1 What is this an example of? a Market b Income Effect c Market Surplus d Opportunity Cost 2 Is this video showing the study of macroeconomics or microeconomics? a Macroeconomics b Microeconomics 3 What factor of supply and demand is this an example of? a Number of buyers and number of supplyers b Income effect and expectation of future prices c Complementary and substitute goods d Preference and technological advancement 4 What is this an example of? a Law of Demand b Law of Supply 5 Both shops end up with a surplus. Which graph best represents this situation? a #1 b #2 c #3 d #4 6 Both shops end up with a surplus. Which graph best represents this situation? a #1 b #2 c #3 d #4 7 Both shops are now decreasing the price to raise demand. Which graph best suits this situation? a #1 b #2 c #3 d #4 8 What is one factor of the market system shown? a Division of labour b Technology c Active but limited role of government d Competition

Video 03Online version

Economics Unit 1

by Helen Lin

What is this an example of?

Market

Income Effect

Market Surplus

Opportunity Cost

Is this video showing the study of macroeconomics or microeconomics?

Macroeconomics

Microeconomics

What factor of supply and demand is this an example of?

Number of buyers and number of supplyers

Income effect and expectation of future prices

Complementary and substitute goods

Preference and technological advancement

What is this an example of?

Law of Demand

Law of Supply

Both shops end up with a surplus. Which graph best represents this situation?

Both shops are now decreasing the price to raise demand. Which graph best suits this situation?

What is one factor of the market system shown?

Division of labour

Technology

Active but limited role of government

Competition

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Video 03

Video Quiz

About this activity

Created by

Download the paper version to play

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Video Quiz

Watch the following video and answer questions.

Video Quiz

Watch the video and answer the questions!

Video Quiz

Why do cats "knead"?

Video Quiz

Music genres

Video Quiz

History of Dutch's cycle paths

Video 03Online version

by Helen Lin

What is this an example of?

Is this video showing the study of macroeconomics or microeconomics?

What factor of supply and demand is this an example of?

What is this an example of?

Both shops end up with a surplus. Which graph best represents this situation?

Both shops end up with a surplus. Which graph best represents this situation?

Both shops are now decreasing the price to raise demand. Which graph best suits this situation?

What is one factor of the market system shown?

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