Demand and Supply Quiz
Authored by Richard Posey
Social Studies
10th Grade
Used 8+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand refers to
the total amount of a specific good or service that is available to consumers
a consumer's ability & willingness to pay a price for a specific good or service
a state where economic forces such as supply and demand are balanced
any structure that allows buyers & sellers to exchange goods & services
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refer to the demand schedule above. At a price of $3, what is the quantity demanded for coconuts?
10
8
6
4
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refer to the demand schedule above. What conclusion can be made about the relationship between price and quantity demanded?
When price decreases, the quantity demanded increases
When price increases, the quantity demanded increases
When price decreases, the quantity demanded decreases
When price increases, the quantity demanded stays the same
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a shifter of demand?
Availability of Resources
New Technology
Consumer Tastes & Preferences
Government Subsidies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refer to the graph above. If there is an overall increase in the taste and preference for coconuts, then the movement that would take place in the model could be:
A to C
B to A
C to A
B to E
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Refer to the graph above. If there is an increase in the price of coconuts, then the movement that would take place in the model could be:
A to C
B to A
C to A
B to E
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supply is best defined as
the amount of goods and services sellers are willing and able to produce at a given price
a state where economic forces such as supply and demand are balanced
any structure that allows buyers & sellers to exchange goods & services
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