Supply, Flow, & Consumer Rights
Quiz
•
Social Studies
•
7th Grade
•
Medium
GREGORY BAY
Used 5+ times
FREE Resource
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25 questions
Show all answers
1.
MATCH QUESTION
30 sec • 5 pts
goods
Jobs and/or things that people do for other people
trade agreement
Agreement between countries to trade.
exports
Things you can buy.
imports
Goods and services that are purchased and go to a different country.
services
Goods and services that are
purchased and brought into the
country.
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
how much you pay for a good or service
tarrifs
goods
price
demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The law of demand states that if the price of CD’s rise, consumers will
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The law of supply states that if the price of CD’s rise, suppliers will
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Americans revive their love of SUV’s and the newly remodeled, but still “gas guzzling” Hummer. What happens to the market for gasoline?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Due to a disappointing economy, Americans are cutting back on the family vacation road trips. What happens to the market for gasoline?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the demand is high, and the supplyis low the ________of goods or services goes up.
price
goods
service
consumer
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