Supply and Demand

Supply and Demand

5th Grade

27 Qs

quiz-placeholder

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Supply and Demand

Supply and Demand

Assessment

Quiz

Social Studies

5th Grade

Hard

Created by

Natalia Forero

Used 4+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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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