Which statement describes the law of demand?

Demand Practice

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Denise Vosika
Used 13+ times
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
As prices rise, quantity demanded decreases
As prices rise, demand decreases.
As prices fall, quantity demanded decreases.
As prices fall, demand decreases.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which is an example of the Law of Demand at work?
The price of the pizza goes up when the price of cheese goes up.
Demand for pizza goes down when tacos become more popular
The price of pizza falls when the demand for pizza falls
Demand for pizza rises when the price of pizza falls
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What causes a shift in the demand curve?
A decrease in price
An increase in price
A change in an area other than price (an external force changed)
A change in price and availability
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The amount of a good or service that producers are willing and able to sell at all possible prices during a given period of time.
Supply
Demand
Factor of Production
Production
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The market equilibrium price is the price at which
surpluses depress the number of goods supplied
shortages and surpluses will have no effect on the market
the government will not intervene in the market
the quantity demanded is the same as the quantity supplied
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the Equilibrium Price?
1
2
3
4
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The diagram represents a
increase in demand
decrease in demand
change in quantity demand
none of the above
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