Supply & Demand Review

Supply & Demand Review

12th Grade

•

25 Qs

quiz-placeholder

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Supply & Demand Review

Supply & Demand Review

Assessment

Quiz

•

Social Studies

•

12th Grade

•

Hard

Created by

Nicholas Ward

Used 2+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The part of economic theory that deals with behavior and decision making by individual units, such as people and firms

Supply

Microeconomics

Demand

Quantity Demanded

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Includes desire and also the willingness and ability to buy the product.

Microeconomics

Supply

Quantity Supplied

Demand

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Shows the various quantities demanded of a particular product at all prices that might prevail in the market at a given time.

Demand Schedule

Law of Supply

Law of Demand

Supply Schedule

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The extra usefulness or additional satisfaction a person gets from acquiring or using one more unit of a product

Utility

Law of Supply

Marginal Utility

Incentive

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

A motivating influence that causes consumers to act.

Marginal Utility

Demand Curve

Utility

Incentive

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

States that the quantity demanded varies inversely with its price

Supply Curve

Demand Curve

Law of Demand

Law of Supply

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Shows the quantity demanded at each price that might prevail in the market

Supply Curve

Demand Curve

Law of Supply

Law of Demand

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