Cynthia writes computer programs for mobile phones and has received five job offers in the last week. This is most likely because:

Demand for computer programmers is high

Supply of computer programmers is high

Demand for computer programmers is low

Demand and supply for computer programmers are equal

What does a shift to the right in the supply curve indicate?

An increase in the quantity supplied at every price.

A decrease in the quantity supplied at every price.

If new Jordan shoes are released and the supply cannot keep up with the number of people who want to buy it, what is likely to happen to the price?

The price will increase because the demand is higher than the supply.

The price will decrease because it is a new game.

The price will stay the same because it is popular.

The price will decrease because the game is in high demand.

What happens to the price of a product when the demand increases but the supply remains the same?

There is not enough information to determine.

If the supply of a product exceeds the demand, what is likely to happen to the price of the product?

The price will remain unchanged.

The product will be discontinued.

What does the law of demand state?

As the price of a product increases, the demand for it decreases.

As the price of a product increases, its supply also increases.

As the price of a product decreases, its supply decreases.

As the price of a product decreases, the demand for it remains unchanged.

Which of the following factors can cause a shift in the demand curve for a product?

Change in the price of the product itself.

Change in the price of a substitute product.

What is a surplus in the context of supply and demand?

A situation where the supply of a product exceeds its demand.

A situation where the demand for a product exceeds its supply.

A situation where the price of a product is set too high.

A situation where the price of a product is set too low.

What can cause a movement along the demand curve for a product?

A change in the product's price.

A change in the price of related goods.

A change in consumer preferences.

What is meant by "market equilibrium"?

When the demand for a product is exactly equal to its supply.

When the government sets the price for all goods and services.

When there is a surplus of goods in the market.

When there is a shortage of goods in the market.

What happens when there is a decrease in the supply of a product but demand remains constant?

The price of the product increases.

The price of the product decreases.

The demand for the product decreases.

The demand for the product increases.

What is a price ceiling?

The maximum price a seller is allowed to charge for a product or service, set by the government.

The minimum price a seller is allowed to charge for a product or service, set by the government.

The equilibrium price in a free market.

The highest price consumers are willing to pay for a product.

What is a price floor?

The minimum price a seller is required to charge for a product or service, often set by the government.

The maximum price a seller is allowed to charge for a product or service.

The equilibrium price in a free market.

The lowest price consumers are willing to pay for a product.

Supply and Demand Quiz Review

Authored by Desire Grismore

others

9th - 12th Grade

Used 12+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View

Student View

29 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the removal of some government controls over a business refer to?

Equilibrium

Disequilibrium

Regulation

Deregulation

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At which point do the supply and demand curves meet?

Equilibrium

Disequilibrium

Regulation

Deregulation

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the government's role in business that affects production?

Equilibrium

Disequilibrium

Regulation

Deregulation

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term describes a price or quantity that does not meet equilibrium; supply and demand do not meet?

Equilibrium

Disequilibrium

Regulation

Deregulation

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What method is typically used for resource allocation in a market system?

Lottery

First Come, First Served

Price

Authority

FILL IN THE BLANKS QUESTION

30 sec • 1 pt

What is a minimum price at which a product can be sold called?

(a)

FILL IN THE BLANKS QUESTION

30 sec • 1 pt

What is a maximum price at which a product can be sold called?

(a)

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

24 questions

APWH Imperialism and Industrialization Mastery Check Review

Quiz

•

9th - 12th Grade

24 questions

Voc.Guidance FINAL REVIEW

Quiz

•

9th - 12th Grade

30 questions

KISI KISI PJOK KELAS 7 PTS

Quiz

•

7th Grade - University

25 questions

Entrepreneurship Final Exam Review

Quiz

•

12th Grade - University

24 questions

Plate Tectonics and Continental Drift Assessment

Quiz

•

9th - 12th Grade

24 questions

Arabian Peninsula Test

Quiz

•

9th Grade

24 questions

Geosphere Unit Test

Quiz

•

9th - 12th Grade

25 questions

Organelles Quiz

Quiz

•

9th - 12th Grade

Popular Resources on Wayground

20 questions

"What is the question asking??" Grades 3-5

Quiz

•

1st - 5th Grade

20 questions

“What is the question asking??” Grades 6-8

Quiz

•

6th - 8th Grade

10 questions

Fire Safety Quiz

Quiz

•

12th Grade

20 questions

Equivalent Fractions

Quiz

•

3rd Grade

34 questions

STAAR Review 6th - 8th grade Reading Part 1

Quiz

•

6th - 8th Grade

20 questions

“What is the question asking??” English I-II

Quiz

•

9th - 12th Grade

20 questions

Main Idea and Details

Quiz

•

5th Grade

47 questions

8th Grade Reading STAAR Ultimate Review!

Quiz

•

8th Grade

Discover more resources for others

10 questions

Fire Safety Quiz

Quiz

•

12th Grade

20 questions

“What is the question asking??” English I-II

Quiz

•

9th - 12th Grade

10 questions

Fire Prevention

Quiz

•

9th - 12th Grade

24 questions

BIOLOGY STAAR REVIEW

Quiz

•

9th Grade

50 questions

STAAR English 2 Review

Quiz

•

10th Grade

20 questions

Graphing Inequalities on a Number Line

Quiz

•

6th - 9th Grade

20 questions

Figurative Language Review

Quiz

•

10th Grade

30 questions

English 1 STAAR Review

Quiz

•

9th Grade

Supply and Demand Quiz Review

What does the removal of some government controls over a business refer to?

At which point do the supply and demand curves meet?

What is the government's role in business that affects production?

What term describes a price or quantity that does not meet equilibrium; supply and demand do not meet?

What method is typically used for resource allocation in a market system?

What is a minimum price at which a product can be sold called?

(a)

What is a maximum price at which a product can be sold called?

(a)

Which quantity represents equilibrium on the graph?

Points B and A on the graph represent what?

What do points B and A represent in terms of market conditions?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for others

Supply and Demand Quiz Review

What does the removal of some government controls over a business refer to?

At which point do the supply and demand curves meet?

What is the government's role in business that affects production?

What term describes a price or quantity that does not meet equilibrium; supply and demand do not meet?

What method is typically used for resource allocation in a market system?

What is a minimum price at which a product can be sold called? (a)

What is a maximum price at which a product can be sold called? (a)

Which quantity represents equilibrium on the graph?

Points B and A on the graph represent what?

What do points B and A represent in terms of market conditions?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for others

What is a minimum price at which a product can be sold called?

(a)

What is a maximum price at which a product can be sold called?

(a)