What is the term for how much people want something?
LA History Ch. 25 Review

Quiz
•
History
•
3rd Grade
•
Easy
Kelly Ramsay
Used 2+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand
Supply
Price
Quality
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the amount of money something costs?
Price
Quality
Surplus
Barter
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for when people try to get the same thing?
Competition
Surplus
Barter
Supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to prices if demand is greater than supply?
Producers increase prices
Producers decrease prices
Prices stay the same
Stores close down
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do producers increase prices when demand is greater than supply?
To earn more by selling items for a higher price
To make people happy
To give away free items
To reduce the number of stores
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if supply is greater than demand?
Producers increase prices
Producers decrease prices
Stores close
People stop buying
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the price of sand buckets when demand is high?
The price increases
The price decreases
The price stays the same
Buckets are free
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