
Supply & Demand
Interactive Video
•
English
•
6th - 8th Grade
•
Practice Problem
•
Hard
+2
Standards-aligned
Sara Honsinger
FREE Resource
Enhance your content in a minute
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a market?
A place where only goods are sold
A place where only services are offered
A place where buyers and sellers exchange goods and services
A place where people only come to socialize
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does voluntary exchange mean?
Buyers are forced to buy products
Sellers decide the price without any agreement
Buyers and sellers willingly decide to make a transaction
Transactions are made without any consent
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are competitive markets considered efficient?
They allocate resources towards their most efficient use
They guarantee profits for all businesses
They ensure the highest price for goods
They favor large corporations over small businesses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do price signals play in a market?
They indicate the quality of a product
They are irrelevant to market operations
They determine the salary of employees
They guide the distribution of resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the price of strawberries decreases?
The quality of strawberries will increase
Farmers will have an incentive to produce less
Consumers will buy less strawberries
Farmers will produce more strawberries
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the equilibrium price?
The lowest price at which a seller can sell
The price where the quantity demanded equals the quantity supplied
A fixed price set by the government
The highest price a buyer is willing to pay
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can external factors affect the market?
They have no effect on the market
They can change the color of the products
They can shift the supply and demand curves
They make products more durable
Tags
CCSS.RI.7.1
CCSS.RI.7.8
CCSS.RI.8.8
CCSS.RL.6.1
CCSS.RL.8.1
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