
Supply and Demand
Quiz
•
Social Studies
•
8th Grade
•
Medium
Asher Fryer
Used 5+ times
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31 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price of a good increases the quantity demanded ____.
a. decreases
b. increases
c. stays the same
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Along a supply curve, if the price of oil falls, what will happen to the quantity of oil supplied?
it will decrease
it will increase
it will not change
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of cars falls, are carmakers likely to make ___________.
more cars
fewer cars
the same amount of cars
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price in a market is above the equilibrium price, this creates ___________.
a shortage (not enough goods to be sold)
a surplus (more than can be sold)
neither a shortage nor a surplus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price is above the equilibrium price, greed (in other words, self-interest) tends to _________.
push the price down
push the price up
have no effect on price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In general, if the price of a good or service goes down, what happens to the demand for that good or service?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In general, if the price of a good or service goes up, what happens to the demand for that good or service?
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