Supply and Demand

Supply and Demand

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

___________ is the quantity a consumer is willing and able to purchase at each price.

Back

demand

2.

FLASHCARD QUESTION

Front

The ____________ says that as the price of a good rises the quantity of the good consumers are willing and able to buy will decrease.

Back

law of demand

3.

FLASHCARD QUESTION

Front

__________ is the quantity a seller is willing and able to sell at each price.

Back

supply

4.

FLASHCARD QUESTION

Front

The ___________ says that as price rises the quantity a seller is willing and able to sell will increase.

Back

law of supply

5.

FLASHCARD QUESTION

Front

A market-clearing or _________________ is one where the quantity of a good that buyers are willing and able to buy matches the quantity of a good that producers are willing and able to sell.

Back

equilibrium price

6.

FLASHCARD QUESTION

Front

In a __________ economy, consumers decide what to produce, firms decide how to produce, and the price system decides who will get the items produced.

Back

market

7.

FLASHCARD QUESTION

Front

As the market/equilibrium price in the market changes, it sends __________ to buyers and sellers about how much they should be willing and able to buy and sell.

Back

signals

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