The Laws of Supply and Demand

The Laws of Supply and Demand

10 Qs

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The Laws of Supply and Demand

The Laws of Supply and Demand

Assessment

Quiz

others

Hard

Created by

Alejandra Carolina Peña Orellana

FREE Resource

10 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

The difference between value in use and value in exchange

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2.

OPEN ENDED QUESTION

30 sec • Ungraded

Term that refers to the amount of money that a buyre pays a seller for a good

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3.

OPEN ENDED QUESTION

30 sec • Ungraded

Two effects used to explain why price changes influence the quantity demanded of a good

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4.

OPEN ENDED QUESTION

30 sec • Ungraded

Five factors that can increase or decrese the demand or a good

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5.

OPEN ENDED QUESTION

30 sec • Ungraded

Six factors that can increase or decrease the supply of a good

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6.

OPEN ENDED QUESTION

30 sec • Ungraded

Why might a good be worth more to one individual than to another?

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7.

OPEN ENDED QUESTION

30 sec • Ungraded

Which principle explains why the sixth slice of pizza consumed tends to be less valuable than the first slice? Using this illustration, show how this principle works

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