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  5. Supply And Demand Lesson 3
Supply and Demand Lesson 3

Supply and Demand Lesson 3

Assessment

Presentation

Social Studies

12th Grade

Practice Problem

Easy

Created by

Levi Haliday

Used 6+ times

FREE Resource

7 Slides • 8 Questions

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2

Draw

Draw the Law of Demand

Label Demand (D) and Price ($)

3

Multiple Choice

Equilibrium Price is the price where there is no surplus and no shortage. What happens when the price of product is lower than the Equilibrium Price?

1

Nothing Happens

2

There is a surplus

3

There is a shortage

4

There is a quorum

4

Fill in the Blank

5

Multiple Choice

What is an incentive?

1
A punishment for not completing a task
2
A penalty for not participating in an activity
3
Something that motivates or encourages someone to do something.
4
A reward given after a task is completed

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8

Multiple Choice

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What happened to the rent for one-bedroom apartments when the new law ended rent control?

1

Rent went up

2

Rent went down

3

Rent stayed the same

4

there was no difference

9

Open Ended

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Who would be more in favor of the changes that happened in the rental market in Santa Monica, landlords or tenants? Why?

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13

Open Ended

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Assume the minimum wage is set at the dotted black line. What are the costs and benefits of increasing it?

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15

Open Ended

What is the difference between a price floor and a price ceiling?

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