
Supply and Demand Review
Authored by Denise Kansas
Social Studies
12th Grade
Used 68+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of these is the best description of a normal supply curve?
Its slope is completely horizontal
Its slope goes up when the diagram is read from right to left
Its slope goes up when the diagram is read from left to right
Its slope is completely vertical
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which would an economist consider a substitute for coffee?
Tea
Water
Soda
Juice
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which would an economist consider a complement to coffee?
Tea
Water
Donuts
Spaghetti
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
When the price of something increases, the quantity demanded
Increases
Stays the same
Decreases
Reverses
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which is most likely a complement to an iphone?
DVD's
speakers
apps
pencils
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of these BEST describes the influence of high prices on the behavior of consumers?
They are an incentive for consumers to buy less
They encourage consumers to modify their supply schedules
They are an incentive for consumers to buy more
They have no effect on Consumers
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
New technology can _______
Both lower production costs and increase productivity
None of these is correct
lower production costs
increase productivity
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