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Supply & Demand Review

Authored by Roxann Bolst

Social Studies

7th Grade

Used 4+ times

Supply & Demand Review
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how society uses its limited resources, and deals with the production, distribution, and consumption of goods and services.

Economy

Economics

Supply

Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person's desire or willingness to purchase a good or service is what?

Supply

Demand

quantity

Shortage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The total amount of eggs a farmenr has to sell could be called the farmer's what ?

price of eggs

supply of eggs

shortage of eggs

demand of eggs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the egg farmer has more eggs than he can sell he has what situation?

demand

supply

A shortage

A surplus

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers of goods try to make products in the same amount/quanitity as those same products are demanded. They are trying to reach what?

Supply

Surplus

Equilibrum

Demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Some goods are made to be used in the making of other goods. One example of these intermediate goods would include,

cars

buildings

cell phones

Steel

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Land, buildings and equipment are examples of what?

Natural resources

Capital Resources

Human Resources

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