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Year 9 - Supply and Demand Quiz

Social Studies

9th Grade

Used 13+ times

Year 9 - Supply and Demand Quiz
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Demand is an economic principle referring to a consumer's desire to........

purchase goods and services and a willingness to pay a price for a specific good or service.

purchase needs and wants and willingness to pay a price for a specific good or service.

pay a price for a specific service.

I don't know, I didn't study ):

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Holding all other factors constant, an increase in the price of a good or service will______________ the quantity demanded, and vice versa.

increase

decrease

3.

OPEN ENDED QUESTION

2 mins • Ungraded

Media Image

Which type of curve is this?

What does it tell us about demand?

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4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to __________________.

producers

consumers

businesses

banks

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or false. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph.

True

False

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which factors could impact on the supply of toilet paper?

Price

Demand

Ability to re-stock

Whether you scrunch or fold

7.

OPEN ENDED QUESTION

2 mins • Ungraded

What would happen if there was a low price point and plenty of quantity?

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OFF

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