Supply & Demand Key Terms
Authored by Scott Moore
Business
9th - 12th Grade
Used 10+ times
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35 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A "Demand" is:
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"A form of demand in which changes in price do not affect demand" is known as:
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Economic principle which states that the quantity of a good or service that people will buy varies inversely with the price of the good or service" is known as the:
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Economic principle which states that the quantity of a good or service that will be offered for sale varies in direct relation to its price" is known as the:
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"The quantity of a good or service that buyers are ready to buy at a given price at a particular time" is known as:
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low" is known as the:
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"A form of demand for products in which changes in price correspond to changes in demand" is known as:
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