Understanding Supply and Demand

Understanding Supply and Demand

5th Grade

10 Qs

quiz-placeholder

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Understanding Supply and Demand

Understanding Supply and Demand

Assessment

Interactive Video

Social Studies

5th Grade

Hard

Created by

Souraya Robbins

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What happens when a new popular product like the Prager station is released with limited availability?

Prices decrease

Demand decreases

Supply increases

Demand exceeds supply

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What factors influence how much of a product a business decides to produce?

Production costs and resources

Consumer preferences only

Global events only

Demand only

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the relationship between supply and demand?

Unrelated to each other

Directly proportional

Complex and interdependent

Inversely proportional

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is a surplus in the market?

High demand with low supply

Low demand with high supply

Balanced supply and demand

Low supply and low demand

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What typically causes prices to increase?

Surplus of products

Decrease in technology

Shortage of products

Stable market conditions

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What can lead to a shortage in the market?

A decrease in consumer interest

Government regulations reducing demand

An increase in production costs

High demand with low supply

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

How can global events affect the market?

Only increase supply

Can cause fluctuations in supply and demand

They have no effect

Only affect demand

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