demand and supply

demand and supply

University

20 Qs

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demand and supply

demand and supply

Assessment

Quiz

Education

University

Practice Problem

Medium

Created by

WAN IBRAHIM

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

rise
fall
stay the same
Consumer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When the demand for a product or service is higher than the supply this causes what?

shortage
consumer
surplus
equilibrium

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Factors that cause the supply or demand to change are called?

equilibrium
shifter
demand
producer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

a person or company that makes, grows, or supplies goods to sell is called the?

damand
price
producer
shortage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The desire or willingness a consumer has to purchase a good or a service is called?

shortage
supply
price
demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An individual or group who purchases goods.

producer
consumer
goods
services

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A group of buyer and sellers of a particular good or service

Supply
Demand
Agency
Market

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