When the price of a product increases, there is

Supply and Demand Review

Quiz
•
Social Studies
•
9th - 12th Grade
•
Hard
Sarah Wilkerson
Used 28+ times
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
a shift in demand.
movement along the demand curve.
a change in elasticity of demand.
no effect on quantity demanded.
2.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
On the demand curve, price and quantity demanded are
inversely related.
directly related.
unrelated.
not relevant.
3.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
During the Dust Bowl of the 1930’s, many farmers’ agricultural goods were destroyed. What happened
to the market for agricultural goods?
Increase in demand
Decrease in demand
Increase in supply
Decrease in supply
4.
OPEN ENDED QUESTION
3 mins • 2 pts
What is the Law of Supply?
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5.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Which of the following explains the Law of Demand?
When prices go down, people have an increased income.
When the price of a good increases, people tend to buy substitutes instead.
People prefer inferior goods during a recession.
People often buy eggs and bacon together.
6.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Which of the following pairs of goods are substitutes?
Jelly & Jam
Eggs & Bacon
Apples & Broccoli
Mugs & Candles
7.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Which of the following pairs of goods are complements?
Jelly & Jam
Eggs & Bacon
Apples & Broccoli
Mugs & Candles
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