Supply and Demand Independent Work

Supply and Demand Independent Work

12th Grade

85 Qs

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Supply and Demand Independent Work

Supply and Demand Independent Work

Assessment

Quiz

Social Studies

12th Grade

Medium

CCSS
HSF-LE.A.1B, HSF-IF.C.7A, RI.11-12.7

+9

Standards-aligned

Created by

Chad Whitley

Used 7+ times

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85 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does this graph show?

Shortage
Surplus
Supply Table
Equilibrium

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If a price floor was set at 320, what quantity would be purchased?

20
40
60
80

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Thousands of people leave a small town due to a factory closing down.  Sales at the local grocery store become slow. What causes this change?

Prices or availability of substitutes
Prices or availability of complementary goods
Change in the weather or season
Change in the number of buyers

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

New technology advances the rate at which furniture can be assembled. Why does this change the supply?

Change in cost of production
Changes in number of producers
Changes in expectations

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market equilibrium price is the price at which

surpluses depress the number of goods supplied
shortages and surpluses will have no effect on the market
the government will not intervene in the market
the quantity demanded is the same as the quantity supplied

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is the Equilibrium Price?

1
2
3
4

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

When there is a shortage the price will usually? 

rise
fall
remain the same
equilibrium

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