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Supply & Demand

Authored by Shun Watson

Social Studies

11th Grade

Used 77+ times

Supply & Demand
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20 questions

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1.

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Printers and ink cartridges are typically purchased together.  Economists would call these

Stubstitues
Complements
Elastic
Inelastic

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This part of the market determines SUPPLY

buyers
sellers
consumers
us

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the law of supply, as price rises, what happens to quantity supplied?

it goes up
it goes down
it stays the same
it is not effected

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of printers goes down, what happens in the market for ink cartridges?

Supply increases.

Supply decreases.

Demand increases.

Demand decreases

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The change in output from adding one more worker is the

negative marginal returns

marginal product of labor

increasing marginal returns

diminishing marginal returns

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Consuming more of one good because of a change in price of another good is known as the 

income effect
substitution effect
elasticity effect
demand effect

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