G7 - Practice for First Test - February 2023

G7 - Practice for First Test - February 2023

8th Grade

8 Qs

quiz-placeholder

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G7 - Practice for First Test - February 2023

G7 - Practice for First Test - February 2023

Assessment

Quiz

Social Studies

8th Grade

Hard

Created by

Muhammad Agung Darlianto

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Demand means

the amount of a good or service that consumers are willing to buy.

is the amount of a good or service produced.

is the price that is demanded by consumers.

None of the above.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is supply?

Willingness to buy a specific good and services for a given price

Willingness to sell a specific good and services for a given price

An increase in the price, a decrease in the quantity supplied

An increase in the price causes an increase in the quantity supplied

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the law of demand?

An increase price causes an increase quantity demanded.

An increase in the price, a decrease in the quantity supplied

An increase in the price, a decrease in the quantity demanded

An increase in the price causes an increase in the quantity supplied.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the law of supply?

An increase in the price, a decrease in the quantity supplied

An increase price causes an increase quantity demanded.

An increase in the price, a decrease in the quantity demanded

An increase in the price causes an increase in the quantity supplied

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Point at which supply and demand come together
price ceiling
excess demand
equilibrium
disequilibrium

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When quantity demanded is more than quantity supplied
price ceiling
excess demand
equilibrium
disequilbrium

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When quantity supplied is not equal to quantity demanded
price ceiling
excess demand
equilibrium
disequilibrium

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When quantity supplied is greater than the quantity demanded, what is the condition know as?
abundant supply
disequilibrium
excess availability
excess supply.