Social Studies
9th Grade
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.
Demand Schedule
Quantity Demand
Demand Function
Demand
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.
Demand
Supply
Supply Schedule
Law of Supply
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A person who buys good and services.
Consumer
Enterpreneur
Resource
Businessman
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
It is the state in which market supply and demand balance each other, and as a result, prices become stable.
Elasticity of Demand
Shortage
Equilibrium
Surplus
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Christmas is already fast approaching! The supply of the gift wrappers is going down. What will happen to the price?
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
iPhone 12 is already released in the market and many people wants to buy it. What will happen to the price?
7.
FILL IN THE BLANKS QUESTION
2 mins • 1 pt
If demand increases and supply remains unchanged, then it leads to (a) equilibrium price and higher quantity.
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