What does supply refer to in the context of market forces for supply and demand?
Exam 2: Units 4-6

Quiz
•
Business
•
12th Grade
•
Medium
William Widmer
Used 6+ times
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity of a good or service that consumers are willing and able to buy at various prices.
The quantity of a good or service that producers are willing and able to offer for sale at various prices.
The amount of money required to purchase a good or service.
The total number of goods available in the market.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does demand refer to in the context of market forces for supply and demand?
The quantity of a good or service that producers are willing and able to offer for sale at various prices.
The total number of goods available in the market.
The quantity of a good or service that consumers are willing and able to buy at various prices.
The amount of money required to purchase a good or service.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can a change in supply or demand affect the market?
It can change the equilibrium price and quantity.
It can only affect the quality of goods and services.
It can only change the preferences of consumers.
It can only affect the number of producers in the market.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does elasticity measure in the context of supply and demand?
The maximum price of a good
The responsiveness of quantity demanded or supplied to a change in price
The quantity of a good supplied at different prices
The percentage change in quantity demanded over time
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a supply schedule?
A list of prices for different goods
A graph showing the demand for a product
A table showing the quantity of a good supplied at different prices
A method to calculate price elasticity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can cause movements along the supply and demand curves?
Changes in consumer preferences only
Changes in technology only
Changes in price only
Changes in factors such as input costs, technology, or consumer preferences
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can cause shifts in the supply and demand curves?
Changes in price only
Changes in factors such as input costs, technology, or consumer preferences
Movements along the curves
The responsiveness of quantity demanded or supplied
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
Understanding Market Economy Principles Video Quiz

Quiz
•
12th Grade
22 questions
U3L3a HW Econ: Equilibrium

Quiz
•
9th - 12th Grade
18 questions
Agribusiness-Management & Price, Supply & Demand

Quiz
•
9th - 12th Grade
18 questions
5.01 Economics of Business & Employment

Quiz
•
9th - 12th Grade
20 questions
4 & 5 Demand and Supply

Quiz
•
12th Grade
20 questions
Demand and Supply

Quiz
•
10th Grade - University
24 questions
U3L1a HW Econ

Quiz
•
9th - 12th Grade
25 questions
IGCSE Economics - Edexcel - Section A - The Market System

Quiz
•
8th - 12th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade