Search Header Logo

Supply & Demand

Authored by Sara Honsinger

English

6th - 8th Grade

CCSS covered

Supply & Demand
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

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.6.1

CCSS.RI.6.8

CCSS.RI.7.8

CCSS.RI.8.8

CCSS.RL.7.1

Access all questions and much more by creating a free account

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?