Supply & PES

Supply & PES

10th Grade - University

15 Qs

quiz-placeholder

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Supply & PES

Supply & PES

Assessment

Quiz

Other

10th Grade - University

Practice Problem

Easy

Created by

Michael Smith

Used 18+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Fill in the gap (marked ?):

Demand

Supply

XED

PED

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Fill in the gap (marked ?):

Demand

Supply

PED

YED

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Why is the demand curve downward sloping?

Because quantity demanded is higher when the price is higher

Because quantity demanded is higher when the price is lower

Because quantity demanded is lower when the price is lower

Because price doesn't really matter

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Why is the supply curve upwards sloping?

Because as price goes up, producers are willing to produce more goods

Because as price goes up, producers are willing to produce less goods

Because some goods are price inelastic

Because some goods are price elastic

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

What's happened here?

Quantity supplied has decreased even though price has stayed the same

Quantity supplied has increased even though price has stayed the same

The price of a good has increased

The price of a good has decreased

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

Which of the following might have caused this to happen?

Good weather / harvest

Improvements in technology

Bad weather

A natural disaster

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

What's happened here?

Quantity supplied has decreased even though price has stayed the same

Quantity supplied has increased even though price has stayed the same

The price of a good has increased

The price of a good has decreased

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