Supply and Demand
Social Studies
11th - 12th Grade
Used 35+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The amount of goods or services available is called?
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An individual or group who purchases goods.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When there is a shortage the price will usually?
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Demand is the desire and the __________ to buy a product or service
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When the price of a good increases, the quantity demanded
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The Law of Demand is...
As prices go up, people will buy less of a good.
As prices go up, people will buy more of a good.
As prices go up, people will buy the same amount of a good.
As prices go up, the demand curve will shift to the left.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The law of supply is..
As prices go up, people will want to make less of a good.
As prices go up, people will want to make more of a good.
As prices go up, people will make the same amount of a good.
As prices go up, the supply curve will shift to the right.
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