Economics - Supply and Demand

Economics - Supply and Demand

Assessment

Flashcard

Social Studies

9th - 12th Grade

Medium

Created by

Mr. Alkire

Used 4+ times

FREE Resource

Student preview

quiz-placeholder

30 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What does the law of demand state?

Back

When the price goes down, people buy more

2.

FLASHCARD QUESTION

Front

What does the law of supply state?

Back

When the price goes up, producers supply more

3.

FLASHCARD QUESTION

Front

What is the equilibrium price and quantity on a supply and demand graph?

Back

Price where supply equals demand, Quantity where demand equals supply

4.

FLASHCARD QUESTION

Front

The BLUE curve represents which of the following? Supply Schedule, Supply Curve, Demand Schedule, Demand Curve

Back

Demand Schedule

5.

FLASHCARD QUESTION

Front

The RED curve represents which of the following?

Back

Supply Curve

6.

FLASHCARD QUESTION

Front

Where the red and blue curves meet is known as what?

Back

Equilibrium

7.

FLASHCARD QUESTION

Front

When buyers purchase exactly as much as sellers are willing to sell, what condition occurs in the market?

Back

market equilibrium

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?

Discover more resources for Social Studies