What are the two most crucial terms in understanding economics?

Exploring Supply and Demand in Basic Economics

Interactive Video
•
Social Studies
•
6th - 10th Grade
•
Medium

Lucas Foster
Used 2+ times
FREE Resource
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation and Deflation
Supply and Demand
Gross Domestic Product and Net Export
Capital and Labor
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the quantity demanded when the price of an item increases?
It increases
It decreases
It fluctuates unpredictably
It remains unchanged
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the law of supply, what is the relationship between price and quantity supplied?
Only related in a free market
Inversely proportional
Directly proportional
Not related
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At what price did wheat reach its equilibrium price in the example provided?
$5 per bushel
$6 per bushel
$7 per bushel
$9 per bushel
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a large supply of oranges affect their market price?
Causes the price to fluctuate
Decreases the price
Increases the price
Has no effect on the price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What causes the equilibrium price to change?
Changes in supply or demand
Changes in government policies only
Fixed by the government annually
Changes in international markets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the elasticity of demand?
The change in demand when supply increases
The change in supply when demand decreases
How much demand changes with a change in price
The government's ability to regulate demand
Create a free account and access millions of resources
Similar Resources on Quizizz
11 questions
Exploring Elasticity in Supply and Demand

Interactive video
•
6th - 10th Grade
11 questions
Key Concepts of Supply and Demand in Microeconomics

Interactive video
•
6th - 10th Grade
11 questions
Analyzing Changes in Equilibrium Price and Quantity

Interactive video
•
6th - 10th Grade
11 questions
Exploring Supply and Demand Concepts

Interactive video
•
6th - 10th Grade
7 questions
Grasping Supply and Demand in Economics

Interactive video
•
6th - 10th Grade
11 questions
Understanding Supply and Demand with Toys

Interactive video
•
6th - 10th Grade
11 questions
Exploring Supply and Demand Concepts

Interactive video
•
6th - 10th Grade
11 questions
Aggregate Demand and Supply Essentials

Interactive video
•
6th - 10th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
Discover more resources for Social Studies
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade