
Supply and Demand
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Forrestt Allday
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
For the law of demand, as price rises, what happens to quantity demanded?
2.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
For the law of supply, as price rises, what happens to quantity supplied?
3.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
When quantity supplied and quantity demanded is equal.
4.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
If a price is above equilibrium price, it creates a...
5.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
If a price is below the equilibrium price it creates a...
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
When the supply of a product or service goes up and the demand stays the same the Price will typically do what?
7.
MULTIPLE CHOICE QUESTION
30 sec • 8 pts
Supply is
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