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Econ U1ch. 3 Supply & Demand

Authored by Zach Burnette

Social Studies

9th - 12th Grade

Used 33+ times

Econ U1ch. 3 Supply & Demand
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the best definition for Demand?

Amount sellers offer for sale at all prices in a market
List showing quantity demanded at each price
Desire, ability, & willingness to buy product
The point where the Demand and Supply Curves meet.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happenes to Quantity Demanded as price increases?

Quantity Demanded would Rise
Quantity Demanded would Fall
Quantity Supplied would Rise
Quantity Supplied would Fall

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happenes to Quantity Demanded as price decreases?

Quantity Demanded would Rise
Quantity Demanded would Fall
Quantity Supplied would Rise
Quantity Supplied would Fall

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does a Demand Schedule show you?

Amount sellers offer for sale at all prices in a market
List showing quantity demanded at each price
Quantity Supplied would Rise
Listing that shows quantity supplied at every price

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the best definition for Diminishing Marginal Utility?

Decreasing additional happiness with each purchase
The point where the Demand and Supply Curves meet.
People with all of their skills and abilities.
Happiness/Satisfaction

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What direction would an increase in Quantity Demanded shift a Demand Curve?

Left
Right

7.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Which 3 answer choices are Demand Determinants that can change consumers level of Demand?

Consumer Tastes
Consumer Income
Number of Consumers
Consumer Location

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