Unit 2 Supply and Demand Vocabulary quiz

Unit 2 Supply and Demand Vocabulary quiz

11th - 12th Grade

10 Qs

quiz-placeholder

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Unit 2 Supply and Demand Vocabulary quiz

Unit 2 Supply and Demand Vocabulary quiz

Assessment

Quiz

Social Studies

11th - 12th Grade

Easy

Created by

Morrissa Green

Used 5+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the graph that shows the relationship between the price of a good and the amount of it that buyers are

willing to purchase at that price.

Demand

Demand Curve

Law Of Demand

Surplus

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the part of the economy where labor and resources are sold

Factor market

Product Market

Business market

Household Market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a

higher price.

Law of Supply

Supply

Law of Demand

Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the rule which states that more of a product will be produced when the price is high and less will be produced when the price is low

Law of Supply

Supply

Law of Demand

Demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the lowest legal price that can be charged for a product.

Shortage

Surplus

Price Ceiling

Price Floor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the name for the situation which exists when the quantity demanded is greater than the quantity supplied.

Shortage

Surplus

Price Ceiling

Price Floor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the situation that exists when the quantity supplied of an item is greater than the quantity demanded

Shortage

Surplus

Price Ceiling

Price Floor

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