Supply and Demand
Authored by Terrance Shepler
Social Studies
10th - 12th Grade
Used 2+ times
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8 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
The Law of Demand says as price ___________ demand___________.
Increaseses, Increases
Decreases, Decreases
Decreases, Increases
Increases, Decreases
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
When demand changes a lot with the price of a good that is
Elastic
Inelastic
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of the following is not a non-price factor that affects demand?
Substitution Effect
Complimentary Products
Change in Income
Change in cost of Production
4.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
The Law of Supply says that as price_________supply___________
Increases, Decreases
Increases,Increases
Decreases, Increases
Decreases, Decreases
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Items that have supplies that are increased with difficulty are_____________
Elastic
Inelastic
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of the following is not a non-price factor of Supply?
Change in Cost of Production
Price of Resource Changes
Changes in Attitudes
Maximization of Profit
7.
FILL IN THE BLANK QUESTION
1 min • 5 pts
The point at which quantity demanded and quantity supplied meet is (a) .
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