Supply and Demand

Supply and Demand

8th - 12th Grade

22 Qs

quiz-placeholder

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Supply and Demand

Supply and Demand

Assessment

Quiz

8th - 12th Grade

Medium

CCSS
HSF-LE.A.1B

Standards-aligned

Created by

Rafiq Henry

Used 10+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The amount of goods or services available is called?

supply
demand
producer
consumer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In general, if the price of a good or service goes down, what happens to the demand for that good or service?

demand goes up
demand stays the same
demand goes down
none of the above

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Amazon Prime is selling Smencils.  There are only a few packs left and they are very popular.  What will happen to the price?

The price will go up.
The price will go down.

Tags

CCSS.HSF-LE.A.1B

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The desire or willingness a consumer has to purchase a good or a service is called?

shortage
supply
price
demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

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

shortage
consumer
surplus
equilibrium

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When supply and demand intersect on the graph is called?

demand curve
equilibrium
elasticity
supply curve

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the laws of supply and demand, when will companies produce more of a product?

When the price people will pay for it goes down
When demand decreases
When they can sell it for a higher price
When the economy turns downward

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