Supply and demand google form test

T/F : Price ceiling on the amount people pay for houses is called rent control.

• True

• False

When the quantity demanded is more than supplied..

• Excess supply

• Surplus

• Demand

• Shortage

T/F: Is this an example of the law of supply: A sandwich shop increases the number of sandwiches made everyday when the price is increased?

• True

• False

__________ when supply and demand are the same

• Equilibrium

• Shortage

• Surplus

Minimum price _______

• Price floor

• Price ceiling

• Rent control

When a consumer is able and willing to buy, __________ is created

• Consumption

• Demand

• Easticity

How is the price and quantity of most goods and services determined?

• Consumers perception of necessity

• Interaction of supply and demand

• Quality

The American economy may describe as

• Command

• Market

• Mixed

This shows the quantities of products demanded at each price by all consumers in the market?

• Consumption list

• Schedule of consumer goods

• A market demand schedule

The table that lists the quantity of a good that a person will buy at different prices?

• Demand schedule

• Demand curve