Micro Economics Chapter 3 Supply and Demand QUIZ

Micro Economics Chapter 3 Supply and Demand QUIZ

12th Grade

66 Qs

quiz-placeholder

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Micro Economics Chapter 3 Supply and Demand QUIZ

Micro Economics Chapter 3 Supply and Demand QUIZ

Assessment

Quiz

Social Studies, History, Science

12th Grade

Easy

CCSS
HSF-LE.A.1B, RF.3.3B, RF.3.3C

+3

Standards-aligned

Created by

Christopher Seymour

Used 195+ times

FREE Resource

66 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The amount of goods available:

Supply
Demand
Utility
Equilibrium

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency of suppliers to offer more of a good at a higher price:

Law of Supply
Law of Demand
Law of Economics
Law of Net Income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The number one goal of a business is:

Equality
Good Working Conditions
Profit
Charitable Contributions

4.

MULTIPLE CHOICE QUESTION

20 sec • 12 pts

Media Image

What does this curve represent?

demand
supply
equilibrium
shortage

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What does this curve represent?

supply
equilibrium
demand
surplus

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

rise
fall
stay the same
Consumer

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

When the demand for a product or service is higher than the supply this causes what?

shortage
consumer
surplus
equilibrium

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