Supply and Demand

Supply and Demand

3rd Grade

29 Qs

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Supply and Demand

Supply and Demand

Assessment

Quiz

Social Studies

3rd Grade

Medium

Created by

Erin Ide

Used 12+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which statement BEST defines a regional exchange?

The purchase of a good when the producer is in one grand division and the consumer is in another.

The purchase of a good when both the producer and consumer are located in the same town.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why do producers and cosumers have to make choices?

because they have limited resources and limited wants

because they have unlimited resources and unlimited wants

because they have limited resources and unlimited wants

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What stops people from having all the goods they want?

unlimited resources

demand

unlimited wants

scarcity

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What will MOST likely happen if the price of peanut butter decreases?

Consumers will buy less

Consumers will buy more

Consumers will buy the same amount

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The amount of a good people want describes

supply

demand

both

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

"determines price" describes

supply

demand

both

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

"producers control this" describes

supply

demand

both

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