Demand and Supply

Demand and Supply

9th - 12th Grade

10 Qs

quiz-placeholder

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Demand and Supply

Demand and Supply

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Vrushti Thakkar

Used 20+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A group of people buying and selling goods or services. This is the definition for:

Demand

Supply

Market

Equilibrium

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Normally the demand curve will have a _______________ slope.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The elasticity for the demand of durable goods is __________

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Law of demand shows a relation between the ___________

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not a cause of the shift in demand for a product?

Change in the price of substitutes

Change in the income of a consumer

Change in the price of a product

None of the above

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The price of the product A was reduced from 100 to 90 Rs and, as a result, the quantity demanded has increased from 70 to 75 units. The demand is:

Inelastic

Unit elastic

Elastic

Can not be determined from the given information

7.

OPEN ENDED QUESTION

2 mins • Ungraded

Define what is Demand?

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