Supply and Demand Concepts-PJA

Supply and Demand Concepts-PJA

Professional Development

14 Qs

quiz-placeholder

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Supply and Demand Concepts-PJA

Supply and Demand Concepts-PJA

Assessment

Quiz

Professional Development

Professional Development

Hard

Created by

Phil Arnold

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is supply in the context of economics?

The total amount of a specific good or service that is available to consumers.

The desire of consumers to purchase goods and services.

The cost of producing a good or service.

The government regulation of goods and services.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the MCP in economics?

Marginal Cost Pricing

Market Clearing Price

Monetary Control Policy

Marginal Consumer Price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: A rise in demand causes the price and the supply to ____.

increase

decrease

remain the same

fluctuate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an incentive for buyers according to the passage?

Discounts

Free shipping

Loyalty points

Cashback offers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consumers buy substitute products because:

they are cheaper.

they are of higher quality.

they are more convenient.

they are more popular.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

Buying a book

Watching a movie

Babysitting

Purchasing a computer

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Markets always hold still according to the passage.

True

False

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