Supply and Demand Quiz

Passage
•
Social Studies
•
12th Grade
•
Easy
Kimberly A Van Horn
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the reason for the downward sloping demand curve on a supply and demand chart?
As prices go down, demand goes up
As prices go up, demand goes down
As prices go up, demand goes up
As prices go down, demand goes down
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the reason for the upward sloping supply curve on a supply and demand chart?
As prices go up, supply goes down
As prices go down, supply goes down
As prices go up, supply goes up
As prices go down, supply goes up
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the equilibrium point on a supply and demand chart?
Where demand and supply do not meet
Where demand and supply meet with no shortage or surplus
Where there is a surplus
Where there is a shortage
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the price is set below the equilibrium on a supply and demand chart?
There is no change in price
There is no change in quantity
There is a shortage
There is a surplus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the price is set above the equilibrium on a supply and demand chart?
There is a surplus
There is a shortage
There is no change in quantity
There is no change in price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would happen to the market for 4k TVs if consumer income increases?
Demand would decrease
Supply would decrease
Supply would increase
Demand would increase
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would happen to the market for 4k TVs if the government puts more regulations on input costs?
Supply would decrease
Supply would increase
Demand would increase
Demand would decrease
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