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Grade 9C - Second Quarter Review

Authored by Nino Cuestas

Social Studies, Business

9th Grade

Used 4+ times

Grade 9C - Second Quarter Review
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

These are all the meanings of Shortage EXCEPT:

When there is a temporary unavailability of goods.

All resources in the world are limited.

When the demand is higher than the supply.

There is a lack of products in a short amount of time.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an example of Scarcity?

Chicken joy is not available today.

Lack of facemask during pandemic.

Empty shelves when people are panic buying.

There is only 7 Billion People living in the world today.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Demand?

It is the amount of products that the consumers are willing and capable of buying.

It is the amount of products that the producers are willing to make.

It is the amount of products that are available inside the market.

It is the amount of products needed in order to start a production of goods.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the meaning of Supply?

It is the amount of product the producers are willing to make and is available in the market.

It is the amount of product the consumers are willing and capable of buying.

It is the amount of product needed to start a production line.

It is the amount of product that exists in this world.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the Law of Demand?

If the prices increases, the demand decreases

If the prices increases, the demand also increases

If the prices decreases, the demand also decreases

If demand increase, prices increases

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the Law of Supply?

If prices increases, supply also increases

If prices decreases, supply increases

If prices increases, supply decreases

If prices increase, there is no change in supply.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who is the mathematician who made the formula for the elasticity of demand?

Alfred Marshall

Alfred Butler

Alfred Monteclar

Alfred Capet

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