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Froggy Jumps
Froggy Jumps

Microeconomics Basics

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Microeconomics Basics

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About this activity

Core micro concepts

Created by

Vinuya Khiyn Josh
Vinuya Khiyn Josh
Philippines

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Microeconomics Basics
 

Froggy Jumps

Microeconomics BasicsOnline version

Core micro concepts

by Vinuya Khiyn Josh
1

What does microeconomics primarily study?

2

Which law explains how price changes affect quantity demanded?

3

What is the term for the extra satisfaction from consuming one more unit?

4

What happens when price increases for a good with elastic demand?

5

Which concept measures responsiveness of supply to price changes?

6

What is opportunity cost?

7

Which market structure features many buyers and sellers and free entry?

8

What is a price ceiling?

9

Which term describes total cost minus total revenue?

10

What causes a shift of the supply curve?

 
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