
Civics Chapter 16 Lesson 3
Authored by Shelia Seale
Social Studies
7th Grade
Used 78+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price of a good is low,
firms supply more of it.
people demand less of it.
people demand more of it.
people supply more of it.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a graph, demand is shown
as a downward sloping line.
as a horizontal line.
as an upward sloping line.
as a vertical line.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To be efficient, markets must
exist only on the Internet.
have a single buyer and seller.
have many competing buyers and sellers.
limit the amount of products for sale.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The point where supply and demand curves meet is
the disequilibrium price.
the equilibrium price.
the shortage price.
the surplus price.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these would cause the supply curve to shift to the right?
a decrease in consumer income
an increase in the cost of production
a decrease in the number of suppliers
new technology
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, prices act as signals to both consumers and producers.
true
false
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Consumers are the people or businesses that buy goods and services.
true
false
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