Supply and Demand Test Review

Supply and Demand Test Review

12th Grade

45 Qs

quiz-placeholder

Similar activities

Planning

Planning

University

46 Qs

Sources of Finance - Unit  - Business Finance

Sources of Finance - Unit - Business Finance

12th Grade

41 Qs

PTS PKWU XII

PTS PKWU XII

12th Grade

40 Qs

teori ekonomi makro

teori ekonomi makro

University

40 Qs

PTS Projek Kreatif dan Kewirausahaan Kelas XII

PTS Projek Kreatif dan Kewirausahaan Kelas XII

12th Grade

50 Qs

Accounting II - Chapter 14 Test Review

Accounting II - Chapter 14 Test Review

9th - 12th Grade

40 Qs

Email - Northstar

Email - Northstar

University

50 Qs

Supply and Demand Test Review

Supply and Demand Test Review

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Matt Duggin

Used 31+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

45 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the market for oranges when a cold snap hits Florida?

supply goes down and prices go up.
supply goes down and prices go down.
supply goes down and prices stay the same.
They give them out for free in the name of philanthropy.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People decide to escape cold weather in New York and travel to the Caribbean. How would this affect the price of hotel rooms in the Caribbean?

Cold weather in New York drives the demand and thus the price down in the Caribbean.
Cold weather in New York does not affect the price of a hotel room in the Caribbean.
Cold weather in New York drives the demand up and the price increases for hotel rooms in the Caribbean.
It doesn't matter because no one wants to visit the Caribbean anyway.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a war breaks out in the Middle East and the global supply of oil decreases, the price of gasoline in the United States

goes up.
goes down.
stays the same.
encourages people to buy cars that consume a great deal of gas.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Supply and demand ultimately determine the ______ equilibrium and _______ equilibrium of a product.

price/quantity
imports/exports
supply/demand
market/command

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Imagine the market for pizza. If the cost of wheat, used to make dough, increases then which graph would most likely occur?

Graph A
Graph B
Graph C
Graph D

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An increase in labor costs (minimum wage goes from $7.25 to $100 per hour) would have a negative effect on the business. Which of the following graphs show an increase in labor costs leading to a decrease in the ability to supply?

Graph A
Graph B
Graph C
Graph D

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The "stuff" that sellers are willing and able to sell is known as

supply
law of supply
supply schedule
supply curve

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?