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Supply and Demand

Authored by Veronica Ocasio

Social Studies

11th - 12th Grade

Used 7+ times

Supply and Demand
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following determines DEMAND in the market?

buyers
sellers
suppliers
store owners

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following determines SUPPLY in the market?

buyers
sellers
consumers
us

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

For the law of demand, as price rises, what happens to quantity demanded?

it goes up
it goes down
it stays the same
it is not effected

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

For the law of supply, as price rises, what happens to quantity supplied?

it goes up
it goes down
it stays the same
it is not effected

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When quantity supplied and quantity demanded is equal

surplus
shortage
equilibrium
law of demand

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If a price is above equilibrium price, it creates a...

shortage
surplus
market price
demand

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If a price is below the equilibrium price it creates a...

shortage
surplus 
market price 
supply

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