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
Create a free account and access millions of resources
Similar Resources on Wayground
14 questions
SOL CE 12 - Characteristics of the U.S. Economy

Quiz
•
6th - 8th Grade
15 questions
Capitalism vs. Socialism

Quiz
•
7th - 8th Grade
10 questions
Demand and Supply

Quiz
•
8th Grade
13 questions
12.1 Inflation and Deflation

Quiz
•
5th Grade - University
13 questions
Supply and Demand

Quiz
•
8th Grade
13 questions
economic flow warmup

Quiz
•
6th - 8th Grade
15 questions
Demand and Supply

Quiz
•
8th - 9th Grade
15 questions
Economics Quiz

Quiz
•
6th - 8th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade