Supply and Demand Fall 24

Supply and Demand Fall 24

12th Grade

27 Qs

quiz-placeholder

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Supply and Demand Fall 24

Supply and Demand Fall 24

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Frank Tucker

Used 24+ times

FREE Resource

27 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As prices rise, sellers will offer more goods and services for sale.
Supply
Law of Supply
Change in supply
demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A shortage of a good is often a signal for a producer to
lower the production of that good
lower the prices of thay good
raise the prices of that good
shift production to another good

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the demand curve shifts to the right, then the supply curve move up and to the right
true
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in price of jelly causes a decrease in demand of peanut butter. The products are
complements
demand elastic
unrelated
subtitutes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the price of a product will reduce the amount of it purchased because:
the higher price means that real incomes have risen.
supply curves are upsloping.
consumers substitute relatively high-priced for relatively low-priced products.
consumers will substitute other products for the one whose price has risen.

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

Are these substitutes or complements?

Substitutes (buy instead of)

Complements (buy together)

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Are these substitutes or complements?

Substitutes (buy instead of)

Complements (buy together)

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