Crash Course: SUPPLY AND DEMAND

Crash Course: SUPPLY AND DEMAND

9th - 12th Grade

15 Qs

quiz-placeholder

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Crash Course: SUPPLY AND DEMAND

Crash Course: SUPPLY AND DEMAND

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Chelsey Gilmore

Used 2+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____ is any place where buyers and sellers meet to exchange goods and services.

market

swap meet

mall

command economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The information that markets generate to guide a distribution of resources is what economists call ________

price signals

market options

supply and demand

emu ninja spies

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What factors determine where resources should go?

prices

profit

marketing plans

invisible hand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of demand, when the price goes up, people buy _____, and when the price goes down, the people buy _____.

less, more

more, less

big, small

gold, options

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What can happen in a market?

Supply can increase

Supply can decrease

Demand can increase

Demand can decrease

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Because of ethical questions, the market around organ donation should be completely unregulated.

False

True

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Law of Supply and Demand is not an absolute law.

True

False

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