Supply and Demand
Authored by Theresa Mosher
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12th Grade
Used 2+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Supply
Amounts of a particular good or service consumers are willing and able to buy at different prices at a particular time.
Quantities of a good or service that producers are willing and able to sell at different prices at a particular time.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
New, original, or groundbreaking idea, product, or improvement.
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Demand
Amounts of a particular good or service consumers are willing and able to buy at different prices at a particular time.
Quantities of a good or service that producers are willing and able to sell at different prices at a particular time.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
New, original, or groundbreaking idea, product, or improvement.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Innovation
The principle of a positive relationship between the price of an item and the quantity of it producers are willing to supply when other things are held constant.
Quantities of a good or service that producers are willing and able to sell at different prices at a particular time.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
New, original, or groundbreaking idea, product, or improvement.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Law of Supply
The principle of a positive relationship between the price of an item and the quantity of it producers are willing to supply when other things are held constant.
Quantities of a good or service that producers are willing and able to sell at different prices at a particular time.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
An inverse relationship between the quantity demanded and the price of a product.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Law of Demand
The principle of a positive relationship between the price of an item and the quantity of it producers are willing to supply when other things are held constant.
Quantities of a good or service that producers are willing and able to sell at different prices at a particular time.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
An inverse relationship between the quantity demanded and the price of a product.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Elasticity of Supply
The principle of a positive relationship between the price of an item and the quantity of it producers are willing to supply when other things are held constant.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
A measure that shows producers' responsiveness, or elasticity of the quantity supplied of a good or service to a change in its price.
An inverse relationship between the quantity demanded and the price of a product.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Elasticity of Demand
The principle of a positive relationship between the price of an item and the quantity of it producers are willing to supply when other things are held constant.
A measure that shows consumers' responsiveness, or elasticity of the quantity demanded of a good or service to a change in its price.
A measure that shows producers' responsiveness, or elasticity of the quantity supplied of a good or service to a change in its price.
An inverse relationship between the quantity demanded and the price of a product.
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