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Supply and Demand

Authored by S Hawkins

Business

10th - 12th Grade

CCSS covered

Used 30+ times

Supply and Demand
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20 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

The law of demand states that if the price of CD’s rise, consumers will

Buy more CDs

Buy fewer CDs

Quantity demanded will not change

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

The law of supply states that if the price of CD’s rise, suppliers will

Supply more CDs
Supply fewer CDs
Quantity supplied will not change

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which of the following is NOT a direct determinant of the supply of peanut butter?

The price of peanuts

The wages of peanut butter factory workers

The income of peanut butter consumers

Existing peanut butter making technology

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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Which of the following will cause an increase in demand for snowboards?

More costly production methods

A decrease in the price of lift tickets at ski resorts

A decrease in consumer income

A decrease in the population

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

A major environmental report highlights the damaging effect of diesel 4x4's. What will happen to the demand for electric vehicles?

Demand for electric vehicles will decrease

Demand for electric vehicles will increase

Demand for electric vehicles will stay the same

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What will happen to the price of corn if almost no rain falls on corn crops?

The price will increase

The price will decrease

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What will happen to the price of shoes if shoe producers have to pay higher wages to their workers?

The price will increase

The price will decrease

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