Lesson 1 Supply and Demand

Lesson 1 Supply and Demand

5th Grade

15 Qs

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Lesson 1 Supply and Demand

Lesson 1 Supply and Demand

Assessment

Quiz

Social Studies

5th Grade

Hard

Created by

Jenna Morris

Used 13+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following would lead to the highest prices?

High Supply

High Demand

Low Demand

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In general, if the price of a good or service goes up, what happens to the demand for that good or service?

demand goes up

demand stays the same

demand goes down

none of the above

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What will happen to the price of tomatoes if there is a drought and less tomatoes are produced?

the price will increase

the price will decrease

the price will stay the same

the price will not be affected

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who buys goods and services

consumer
entrepreneur
resource
currency

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the Law of Demand, when prices drop...

demand will also drop

demand will increase

quantity demanded is unchanged

supply increases

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The more money that a person makes, the more they are willing to spend..

diminishing marginal utility

substitute effect

total revenue

income effect

7.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

A product may be amazing, but unless consumers are __ and __ to purchase it, it's not in demand.

willing

wishing

able

planning

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