What are market forces?
Market Forces and Price Mechanism Quiz

Quiz
•
Social Studies
•
8th Grade
•
Medium
Tricia Gilbert
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Changes in supply and demand that affect how much people are willing to pay for or sell goods and services
The total number of products available in a market
The amount of money a government spends on goods
The number of stores in a city
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the price mechanism?
The way price can affect the supply and demand of goods and services
The process of making goods in a factory
The method of advertising products
The way consumers choose their favorite brands
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the law of demand, what happens when the price of a good rises?
The quantity demanded decreases
The quantity demanded increases
The supply of the good decreases
The supply of the good increases
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are producers more willing to supply goods at higher prices?
Because higher prices mean greater profits
Because higher prices mean fewer customers
Because higher prices reduce production costs
Because higher prices increase demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A baker decides not to bake blueberry muffins if the selling price does not cover the cost of ingredients. Which economic concept does this illustrate?
Law of supply
Law of demand
Price mechanism
Market forces
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "market forces" refer to in economics?
The influence of government policies on prices
The actions of buyers and sellers that determine prices in a market
The physical location where goods are sold
The amount of money a business makes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Source 4, how many blueberry muffins will a baker supply if the price is $2.5 each?
60
75
90
120
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