Supply & Demand Quiz

Supply & Demand Quiz

5th Grade

15 Qs

quiz-placeholder

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Supply & Demand Quiz

Supply & Demand Quiz

Assessment

Passage

Social Studies

5th Grade

Medium

Created by

Laura Burnett

Used 3+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "demand" refer to in economics?

The amount of a good or service a seller offers at a particular price.

The ability and willingness to pay for a particular item or service.

The total number of goods available in the market.

The price at which an item is sold.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is "supply" in the context of a market?

The total money spent by consumers.

The demand for goods by the consumers.

The amount of a good or service a seller offers for a particular price at a specific time.

The number of stores available in a market.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do supply and demand together affect a market economy?

They determine the number of manufacturers.

They influence what products are available in stores.

They ensure that businesses sell what buyers want and that buyers are willing to spend money.

They control the import and export of goods.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'demand' refer to in the context of economics?

The desire to own something and the ability to pay for it

The amount of a product that is available for sale

The cost of manufacturing a product

The number of stores selling a product

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'supply' mean in economic terms?

The desire to buy products

The amount of a product that is available for sale

The money needed to buy a product

The number of consumers wanting a product

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for store owners to understand demand?

To decide how much to charge for products

To know how much of a product to stock

To choose the store location

To determine employee salaries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of a manufacturer in the supply chain?

To sell products directly to consumers

To buy products from the store

To create or produce the products

To set the prices of products in stores

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