Chapter 2 DEMAND, SUPPLY, PRICING  AND MARKET EQUILIBRIUM

Chapter 2 DEMAND, SUPPLY, PRICING AND MARKET EQUILIBRIUM

12th Grade

20 Qs

quiz-placeholder

Similar activities

Principles of Business

Principles of Business

12th Grade

20 Qs

Introduction to Business Chapter 1

Introduction to Business Chapter 1

9th - 12th Grade

17 Qs

Microeconomics Terms Quizs

Microeconomics Terms Quizs

12th Grade

20 Qs

POB Chapter 1.4 Review

POB Chapter 1.4 Review

9th - 12th Grade

18 Qs

Intro to Business

Intro to Business

9th - 12th Grade

17 Qs

Supply and Demand Quiz

Supply and Demand Quiz

11th - 12th Grade

25 Qs

Economics Quiz

Economics Quiz

10th Grade - University

15 Qs

Econ Chapter 5

Econ Chapter 5

KG - Professional Development

18 Qs

Chapter 2 DEMAND, SUPPLY, PRICING  AND MARKET EQUILIBRIUM

Chapter 2 DEMAND, SUPPLY, PRICING AND MARKET EQUILIBRIUM

Assessment

Quiz

Business

12th Grade

Medium

Created by

Nattida In-asa

Used 15+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

DEFINITION OF DEMAND is ......

the number of producers willing to supply a good or service at a given price
the amount of money consumers are willing to pay for a good or service
the quantity of a good or service that consumers are not willing to purchase at a given price
the quantity of a good or service that consumers are willing and able to purchase at a given price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

DEFINITION OF SUPPLY is ........

the demand for a product or service
the cost of producing a product or service
the amount of money available for purchase
the total amount of a product or service available for purchase

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one is the Law of DEMAND?

As the price of a good or service decreases, the quantity demanded for that good or service decreases
As the price of a good or service increases, the quantity supplied for that good or service decreases
As the price of a good or service increases, the quantity demanded for that good or service increases
As the price of a good or service increases, the quantity demanded for that good or service decreases

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one is the Law of SUPPLY?

As the price of a good or service increases, the quantity supplied by producers increases.

The Law of Supply only applies to services, not goods.
The quantity supplied by producers remains constant regardless of the price of a good or service.

As the price of a good or service increases, the quantity supplied by producers decreases.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

DEFINITION OF PRICING is .........

The amount of money that has to be paid to acquire

a given product

The process of determining the weight of a product or service
The process of determining the color of a product or service
The process of determining the size of a product or service

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt


Point at which the quantity demanded equals the quantity supplied

equilibrium
disruption
imbalance
overload

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does this curve represent?

pricing

supply

equilibrium

demand

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?