Supply and Demand

Supply and Demand

9th - 12th Grade

33 Qs

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Supply and Demand

Supply and Demand

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Barbara MacFarlane

Used 87+ times

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33 questions

Show all answers

1.

DROPDOWN QUESTION

30 sec • 1 pt

The regulating force in the marketplace is (a)   .

acceptability
credit
competition
depreciation

2.

DROPDOWN QUESTION

30 sec • 1 pt

When more firms produce the same product, it means that (a)   of that product is produced at a higher quality.

more
less
half
some

3.

DROPDOWN QUESTION

30 sec • 1 pt

In a free market economy, the (a)   does not interfere in the pricing.

seller
competition
government
consumer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As the price of goods or services increases, the quantity demanded decreases, and as the price decreases, the quantity demanded increases.

The Law of Demand

The Law of Supply

Marginal Costs

Equilibrium

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As the price of goods increases, the quantity supplied goes up, and as the price decreases, the quantity supplied goes down

The Law of Demand

The Law of Supply

Marginal Costs

Equilibrium

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of fresh orange juice rises, consumers might switch to cheaper alternatives, such as frozen juice from concentrate. This is an example of ______.

the substitution effect

the income effect

the money supply

a monopoly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A table showing quantities of goods that would be supplied by one producer at different prices is ________

a supply schedule

a supply curve

price ceiling

productivity

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