Supply/Demand/Equilibrium

Supply/Demand/Equilibrium

12th Grade

29 Qs

quiz-placeholder

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Supply/Demand/Equilibrium

Supply/Demand/Equilibrium

Assessment

Quiz

Other

12th Grade

Medium

Created by

Mr. Greening

Used 4+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What occurs to the demand curve when consumers demand different amounts due to  population change, advertising, or demographics.

Income effect
Change in quantity demanded
Compliments
Shift in demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Change in quantity demanded caused by a change in a consumer's income when the price of a product changes

Substitution effect
Compliments
Law of demand
Income effect

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in a products prices causes consumers to switch to another brand

Compliments
Substitutes
Change in quantity demanded
Change in demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a product increases in price, there is a negative effect on other products associated with it

Compliments
change in demand
Substitutes
income effect

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the MAIN cause of a change in quantity demanded?

substitution
change in price
change in revenue
the income effect

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between income and demand?

A decrease in income increases demand
A decrease in price decreases income
An increase in price increases income
An increase in income increases demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a likely complement to a motor vehicle?

Cloth Seats
Tires
Windshield
Engine

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