Supply and Demand Unit Assessment

Supply and Demand Unit Assessment

10th Grade

•

42 Qs

quiz-placeholder

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Supply and Demand Unit Assessment

Supply and Demand Unit Assessment

Assessment

Quiz

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others

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10th Grade

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Practice Problem

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Created by

Ashley Lynch

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42 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

1. When the price of a product increases, there is

a. a shift in demand.
b. movement along the demand curve.
c. a change in elasticity of demand.
d. no effect on quantity demanded.

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

2. On the demand curve, price and quantity demanded are

a. inversely related.
b. directly related.
c. unrelated.
d. not relevant.

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

3. During the Dust Bowl of the 1930’s, many farmers’ agricultural goods were destroyed. What happened to the market for agricultural goods?

a. Increase in demand
b. Decrease in demand
c. Increase in supply
d. Decrease in supply

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

4. What is the Law of Supply?

a. When demand goes up, supply decreases.
b. Supply shifts to the right due to technology.
c. When price increases, quantity supplied decreases.
d. When price increases, quantity supplied increases.

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

5. Which of the following explains the Law of Demand?

a. When prices go down, people have an increased income.
b. When the price of a good increases, people tend to buy substitutes instead.
c. People prefer inferior goods during a recession.
d. People often buy eggs and bacon together.

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

6. Which of the following pairs of goods are substitutes?

a. Jelly & Jam
b. Eggs & Bacon
c. Apples & Broccoli
d. Mugs & Candles

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

7. Which of the following pairs of goods are complements?

a. Jelly & Jam
b. Eggs & Bacon
c. Apples & Broccoli
d. Mugs & Candles

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