The ability or need to buy goods and services is called...
Supply and Demand

Quiz
•
Social Studies
•
5th Grade
•
Hard
Natalia Forero
Used 4+ times
FREE Resource
27 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supply
Demand
Law of demand
Law of supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods that get used or replaced often are called...
Gross domestic products
Supply
Durable good
Consumable goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
More is demanded at a lower price than at a high price is known as...
Supply
Demand
Law of demand
Law of supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the cost of making biclycles goes down, the supply will likely...
increase
decrease
stay the same
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic system in which there is free competition and prices are determined by the interaction of supply and demand is called...
mixed economy
market economy
economic growth
gross domestic product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gasoline and cleaning supplies are examples of
durable goods
gross domestic producst
consumable goods
supply
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Oil and diamonds are both often expensive because they are ...
non-renewable resources
renewable resources
resources
goods
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