Supply and Demand Checkpoint
Flashcard
•
History
•
8th Grade
•
Hard
Wayground Content
FREE Resource
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9 questions
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1.
FLASHCARD QUESTION
Front
The amount of a good producers are willing to sell at each possible price is called
Back
supply
2.
FLASHCARD QUESTION
Front
The law of supply says that as prices go _______________, producers will make ______________ or their product.
Back
up ..... more
3.
FLASHCARD QUESTION
Front
Label the curves in the graph. The supply curve is _______ and the demand curve is _______.
Back
red ..... blue
4.
FLASHCARD QUESTION
Front
Scenario causing change in quantity supplied from point C to D on supply curve?
Back
The price increased
5.
FLASHCARD QUESTION
Front
The amount of a good consumers are willing to pay at each possible price is called..
Back
demand
6.
FLASHCARD QUESTION
Front
The amount of money exchanged for a good or service is called the ...
Back
price
7.
FLASHCARD QUESTION
Front
What could cause a change in the quantity demanded for gas, from point A to point B?
Back
The price of gas decreased
8.
FLASHCARD QUESTION
Front
The point where supply and demand meet is called the ...
Back
equilibrium price
9.
FLASHCARD QUESTION
Front
If current production is shown by the green (x) on the supply curve, is there a shortage or a surplus?
Back
shortage
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