Demand, Supply and Equilibrium
Authored by Brian Dinkelman
Social Studies
10th - 12th Grade
Used 12+ times
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37 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The diagram represents a
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new study has shown that avocados are extremely healthy. The demand for avocados has increased due to a change in
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of Frozen Yogurt increased then the demand for ice cream will
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Hong Kong government reduced income tax by 10%. The demand for shoes will
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The law of demand states that as the price increases then
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The desire to have some good or service and the ability to pay for it
supply
equilibrium
demand
quantity demanded
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Elasticity refers to
how producers of goods and services react to price changes
how consumers of goods and services react to price changes
how far a supply of scarce goods can be stretched
how often the price of a good or service changes when quantity demanded changes
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