Supply and Demand

Supply and Demand

12th Grade

18 Qs

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Supply and Demand

Supply and Demand

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Amy Wong

Used 9+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

The want or willingness a consumer has to purchase a good or a service is called?

shortage
supply
price
demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

The amount of goods or services available for a producer to sell is called?

supply
demand
producer
consumer

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

For the law of demand, as price rises, what happens to quantity demanded?

it goes up
it goes down
it stays the same
it is not effected

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

When quantity supplied and quantity demanded is equal

surplus
shortage
equilibrium
law of demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If a price is below the equilibrium price it creates a...

shortage
surplus 
market price 
supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

What does this curve represent?

demand
supply
equilibrium
shortage

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

What does this curve represent?

supply
equilibrium
demand
surplus

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