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Supply and Demand Quiz

Authored by Marissa Jadrosich-Forget

Business, Social Studies

9th - 12th Grade

Used 8+ times

Supply and Demand Quiz
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23 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Law of Demand state?

If price goes up quantity supplied goes up and if price goes down quantity supplied goes down.

if price goes up quantity demanded goes up and if price goes down quantity demanded goes down.

if price goes up quantity demanded goes down and if price goes down quantity demanded goes up.

if price goes up quantity supplied goes down and if price goes down quantity supplied goes up.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

quantities offered at various prices by all firms that offer products for sale in a given market

total product

total cost

supply

market supply curve

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When producers offer more of a good as its price increases and less as its price falls, this defines the

law of demand

law of supply

change in demand

change in supply

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The willingness and ability of a producer to make a product is referred to as

quantity supplied

quantity demanded

supply

demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Movement along a supply curve demonstrates

a change in quantity supplied

a change in quantity demanded

a change in supply

a change in demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A shift in a supply curve demonstrates

a change in quantity supplied

a change in quantity demanded

a change in supply

a change in demand

7.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Which of these demonstrates an example of a supply curve? (More than one answer)

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