Supply Demand shift

Supply Demand shift

9th - 12th Grade

29 Qs

quiz-placeholder

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Supply Demand shift

Supply Demand shift

Assessment

Quiz

Social Studies, Business, Life Skills

9th - 12th Grade

Practice Problem

Easy

Created by

Katherine Grace

Used 10+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If the price of printers goes down, what happens in the market for ink cartridges?

Supply increases.

Supply decreases.

Demand increases.

Demand decreases

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Generally speaking, the lower the price, the greater the quantity demand.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

For the law of demand, as price rises, what happens to quantity demanded?

it goes up

it goes down

it stays the same

it is not effected

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

For the law of supply, as price rises, what happens to quantity supplied?

it goes up

it goes down

it stays the same

it is not effected

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What are Substitute Goods?

Items that people tend to buy more of when their incomes increase. This is true of most goods and services.

Items that people purchase more of when their incomes decrease. These items tend to be low-cost options for saving money.

Items that may replace each other when used or consumed.

Items that are almost always consumed or used together.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

New robot technology increases productivity of car producers. What happens to market for cars?

Supply shifts left

Supply shifts right

No change in supply

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Cost of steel increases. What happens to market for cars?

Supply shifts left

Supply shifts right

No change in supply

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