Supply and Demand
Authored by Matthew Blake
History
12th Grade
Used 15+ times
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22 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
When prices rise which of the following is true?
Consumers will buy more
Consumers will buy less
Producers will make more
Producers will make less
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
When prices fall which of the following are true?
Consumers will buy less
Consumers will buy more
Producers will make more
Producers will make less
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Pearl Exchange Activity, when the Red Tide occurred, there was a shift in one of the supply and demand curves. Which of the following accurately describes the shift?
The Supply Curve Shifted to the Right (Expectations)
The Supply Curve Shifted to the Left (Expectations)
The Demand Curve Shifted to the Right (Expectations)
The Demand Curve Shifted to the Left (Expectations)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Pearl Exchange Activity, when the price of Diamonds fell, there was a shift in one of the supply and demand curves. Which of the following accurately describes the shift?
The Supply Curve Shifted to the Right (Change in Resources)
The Supply Curve Shifted to the Left (Change in Consumer Preferences)
The Demand Curve Shifted to the Right (Change in Consumer Preferences)
The Demand Curve Shifted to the Left (Change in Consumer Preferences)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Diamonds, in the Pearl Exchange Activity, are best described as which of the following in relation to Pearls?
Competition
Property Rights
Complement
Substitute
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
In the Pearl Exchange Activity, the shifting of the supply and demand curves due to multiple events resulted in which of the following?
Sometimes higher prices
Sometimes lower prices
New Equilibrium
No change occurred
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that as prices rise, consumers will buy less and as prices fall, consumers will buy less is related to which concept?
Law of Supply
Law of Demand
Equilibrium
Competition
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