ECONOMICS: LAW OF SUPPLY AND DEMAND, NATIONAL INCOME

ECONOMICS: LAW OF SUPPLY AND DEMAND, NATIONAL INCOME

12th Grade

20 Qs

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ECONOMICS: LAW OF SUPPLY AND DEMAND, NATIONAL INCOME

ECONOMICS: LAW OF SUPPLY AND DEMAND, NATIONAL INCOME

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Gloria Gabrentina

Used 5+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

This part of the market determines DEMAND

buyers
sellers
suppliers
store owners

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

This part of the market determines SUPPLY

buyers
sellers
consumers
us

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The amount of goods available:

Supply
Demand
Utility
Equilibrium

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Demand can be best defined as

an individuals need or desire for a good or service at a given price.
how much of a good or service is being produced.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

This is the value of all goods and services produced in the economy in a year. It measures the economic performance of a country.

National Income
Econmic Growth
Circular Flow of Income

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A higher GDP generally correlates to a(n) ___________ standard of living.

higher

lower

unrelated

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

GDP is the total value of all final goods and services produced in a country in a year.

True

False

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