16.3_Intro to Econ_Demand and Supply in a Market Economy

16.3_Intro to Econ_Demand and Supply in a Market Economy

9th - 12th Grade

20 Qs

quiz-placeholder

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16.3_Intro to Econ_Demand and Supply in a Market Economy

16.3_Intro to Econ_Demand and Supply in a Market Economy

Assessment

Quiz

History

9th - 12th Grade

Medium

Created by

The Coach Williams

Used 34+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Factors that affect demand cause the demand curve to _____________.

always move left

always move right

move left or right

stay flat

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Supply is affected by the number of suppliers and the cost of production.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the demand for frozen yogurt increases in July, sellers of frozen yogurt will most likely drop their prices in July.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a command economy, the price of a fresh-baked pie would be ________________.

based on the demand

based on the production cost

set by the government

the same as it has always been

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the United States, prices of goods are a result of ___________________.

government decisions

supply and demand

suppliers and producers

opportunity costs and trade-offs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Demand refers to the amount of a good or service that ______________________.

consumers are able to buy at a given price

people are willing to buy at any price

people are willing and able to buy at any price

people are willing and able to buy at a given price

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As the price of a good goes up, producers tend to supply less.

True

False

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