Price theory
Quiz
•
Business
•
9th - 11th Grade
•
Practice Problem
•
Hard
Carel Steinmann
Used 86+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where suppliers and consumers meet is called the equation point.
True
False
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A famous rock star dies. How does this affect the market for his/her music and memorabilia?
Which statement is not true?
Demand will decrease for the star's possessions.
Supply will increase making more copies of the music may be making a memorable album with hit songs
Price will decrease
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
DVDs are replaced by Netflix and Youtube.
Which statement is not true?
Demand will decrease for DVD's
Supply will increase for DVD's
Price will slightly decrease because more DVD's are sold
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
H&M has a big summer sale at the end of the season.
Which statement is true?
Demand will decrease for the clothing - therefore the sale
Demand will increase for the clothing
Price will stay the same
The supply of summer clothing will increase
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A new supplier of umbrellas enters the market.
Which statement is true?
Demand will stay the same
Demand will increase
Demand will decrease
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A new supplier of umbrellas enters the market.
Which statement is true?
Supply will stay the same
Supply will increase
Supply will decrease
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A new supplier of umbrellas enters the market.
Which statement is true?
The price will likely stay the same
The price will likely increase
The price will likely decrease
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