
Supply and Demand Quiz

Interactive Video
•
Economics
•
9th - 12th Grade
•
Hard
Jennifer Brown
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main focus of this video session?
Analyzing global markets
Discussing economic history
Practicing the application of supply and demand
Teaching new concepts of supply and demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the quantity demanded when the price of a product falls?
It remains the same
It decreases
It increases
It becomes zero
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between price and quantity supplied according to the law of supply?
Random relationship
No relationship
Inverse relationship
Direct relationship
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following does NOT cause a shift in the demand or supply curve?
Change in consumer preferences
Change in the price of related goods
Change in the price of the product
Change in income levels
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in analyzing a shift in demand or supply?
Predicting future market trends
Consulting economic experts
Identifying the initial change
Calculating profit margins
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a key resource for producing fidget spinners becomes more expensive, what happens to the supply curve?
It becomes vertical
It shifts to the left
It shifts to the right
It remains unchanged
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a decrease in the price of a substitute product affect the demand for fidget spinners?
Increases supply
No effect on demand
Decreases demand
Increases demand
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