Demand, Supply, and Prices Quiz 1

Demand, Supply, and Prices Quiz 1

12th Grade

14 Qs

quiz-placeholder

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Demand, Supply, and Prices Quiz 1

Demand, Supply, and Prices Quiz 1

Assessment

Quiz

Business

12th Grade

Easy

Created by

Shanda Misiolek

Used 15+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The desire to own something and the ability to pay for it.

demand

law of demand

market demand schedule

demand curve

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Consumers will buy more of a good when its price is lower and less when its price is higher

demand

law of demand

market demand schedule

demand curve

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When a consumer reacts to a rise in the price of one good by consuming less of that good and ore a substitute good.

demand curve

income effect

demand schedule

substitution effect

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The change in consumption that results in response to changes in price.

demand

income effect

substitution effect

market demand schedule

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A table that lists the quantity of a good that a person will purchase at various prices in a market.

demand

law of demand

demand curve

demand schedule

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A table that lists the quantities demanded of a good at various prices by all consumers in the market

market demand schedule

Demand

law of demand

demand curve

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A graphic representation of a demand schedule

demand schedule

demand curve

market demand schedule

demand

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