Price, Equilibirum , Supply and Demand

Price, Equilibirum , Supply and Demand

9th - 12th Grade

20 Qs

quiz-placeholder

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Price, Equilibirum , Supply and Demand

Price, Equilibirum , Supply and Demand

Assessment

Quiz

History

9th - 12th Grade

Hard

Created by

E Goodreau

Used 7+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of money exchanged for a good or service.

Competition

Price

Supply

Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What determines who acquires goods and services?

Quantity

Demand

Price

Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the amount of a good or service that consumers are willing and able to buy?

Supply

Competition

Demand

Sovereignty

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Law of Demand says:

Consumers will buy at higher prices no matter what

Producers will make unwanted goods

Consumers will buy more of a good or service at a lower price

Consumers will only by when incentives are given

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Law of Supply says:

Producers will make less of a good or service and sell at a higher price

Consumers only purchase when incentives are given

Consumers will purchase at any price

Producers will produce more of a good or service when they can sell at a higher price

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of a good or serve that producers are willing and able to offer at a price at a given time.

Demand

Supply

Money

Resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When Supply and Demand intersect.

Quantity

Supply

the origin

Equilibrium price

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