
Supply and Demand Quiz

Quiz
•
Other
•
University
•
Medium
Abdulaziz Ashurov
Used 4+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What happens to the demand for luxury goods during an economic downturn?
a) It increases
b) It decreases
c) It remains unchanged
d) It becomes perfectly elastic
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When supply and demand are in equilibrium, what happens to prices?
a) They increase
b) They decrease
c) They remain stable
d) They fluctuate randomly
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a competitive market?
a) A market with only one seller
b) A market with numerous buyers and sellers
c) A market with barriers to entry
d) A market with government intervention
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the demand curve represent in the supply and demand model?
a) The quantity of a good or service that producers are willing to supply at various prices
b) The relationship between the price of a good and the quantity demanded by consumers
c) The relationship between the price of a good and the quantity supplied by producers
d) The equilibrium point where supply equals demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the supply curve shifts to the left, what does it indicate?
a) Increase in supply
b) Decrease in supply
c) Increase in demand
d) Decrease in demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a competitive market described by the supply and demand model, what happens when there is excess demand?
a) Prices decrease
b) Prices remain unchanged
c) Prices increase
d) Quantity supplied decreases
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a shift to the right in the supply curve indicate?
a) Increase in supply
b) Decrease in supply
c) Increase in demand
d) Decrease in demand
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
Introduction to Transportation and Logistics

Quiz
•
University
20 questions
Economy-Ch 4 (Market Equilibrium)

Quiz
•
University
20 questions
Economics Quiz on Chapter 5 & 6

Quiz
•
University
20 questions
Economics May/June 2023 (11/10/22)

Quiz
•
University
15 questions
Perfect Competition

Quiz
•
University
17 questions
Introduction to economics

Quiz
•
University
15 questions
ComicKala Round 1

Quiz
•
University
Popular Resources on Wayground
20 questions
Brand Labels

Quiz
•
5th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World

Quiz
•
3rd - 12th Grade
25 questions
Multiplication Facts

Quiz
•
5th Grade
20 questions
ELA Advisory Review

Quiz
•
7th Grade
15 questions
Subtracting Integers

Quiz
•
7th Grade
22 questions
Adding Integers

Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns

Quiz
•
3rd Grade
10 questions
Exploring Digital Citizenship Essentials

Interactive video
•
6th - 10th Grade
Discover more resources for Other
11 questions
NFL Football logos

Quiz
•
KG - Professional Dev...
20 questions
Definite and Indefinite Articles in Spanish (Avancemos)

Quiz
•
8th Grade - University
7 questions
Force and Motion

Interactive video
•
4th Grade - University
36 questions
Unit 5 Key Terms

Quiz
•
11th Grade - University
38 questions
Unit 6 Key Terms

Quiz
•
11th Grade - University
20 questions
La Hora

Quiz
•
9th Grade - University
7 questions
Cell Transport

Interactive video
•
11th Grade - University
7 questions
What Is Narrative Writing?

Interactive video
•
4th Grade - University