Supply & Demand
Quiz
•
Education, Fun
•
KG - 8th Grade
•
Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the supply for a good is high, its price ____
Goes up
Does not change
Goes down
Does not matter
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As the price of an goes down, it's Demand tends to ___
Go down
Does not matter
Goes up
Does not change
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Diamonds are costly because _____
Shiny = Costly
They are found everywhere
The Rarity factor
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Economy is the place where people _____ money
Burn
Earn and Spend
Earn
Spend
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The price of something is the result of on-going negotiation between producers and consumers based on
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will happen to the price of shoes if shoe producers have to pay higher wages to their workers?
The price will decrease
The price will Increase
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will happen to the price of T-Shirts if T-Shirt businesses now use machines that produce twice as many shirts in one hour?
The price will decrease
The price will increase
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