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Supply and Demand

Authored by Natalia Forero

Social Studies

5th Grade

Used 4+ times

Supply and Demand
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27 questions

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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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