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Supply and Demand Review

Supply and Demand Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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10 questions

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1.

FLASHCARD QUESTION

Front

What is the best description of a normal supply curve?

Back

Its slope goes up when the diagram is read from left to right

2.

FLASHCARD QUESTION

Front

Which would an economist consider a substitute for coffee? Options: Tea, Water, Soda, Juice

Back

Tea

3.

FLASHCARD QUESTION

Front

Which would an economist consider a complement to coffee?

Back

Donuts

4.

FLASHCARD QUESTION

Front

When the price of something increases, the quantity demanded

Back

Decreases

5.

FLASHCARD QUESTION

Front

Which is most likely a complement to an iPhone? Options: DVD's, speakers, apps, pencils

Back

apps

6.

FLASHCARD QUESTION

Front

Which of these BEST describes the influence of high prices on the behavior of consumers?

Back

They are an incentive for consumers to buy less

7.

FLASHCARD QUESTION

Front

New technology can _______

Back

Both lower production costs and increase productivity

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