Economics Quiz for Grade 9

It is defined as the quantity of a product or service that a consumer is willing to buy in a given period of time for a particular price.

• Demand

• Microeconomics

• Supply

It is used to show the representation of the demand curve.

• Bar graph

• Line graph

• Pie graph

In the equation Qd = Q – 10P, which is constant?

• Qd

• Q

• 10P

In the equation Qd = Q – 10P, which is changeable?

• Qd

• Q

• 10P

When price decreases, the quantity of demand increases. When price increases, the quantity of demand decreases.

• Law of Demand

• Law of Supply

• Market demand/Market supply

is the main character for demand.

• Consumer

• Producer/Entrepreneur

• Prices

is the main character for supply.

• Consumer

• Producer/Entrepreneur

• Prices

This refers to a tabular representation of the quantity a consumer is willing to buy given alternative prices.

• Demand Curve

• Demand Schedule

• Demand Function

It is a graphical representation of the inverse relationship between price and quantity demanded.

• Demand Curve

• Demand Schedule

• Demand Function

It is defined as the quantity of a product or service that a producer is willing to sell given alternative prices for a specific period of time.

• Demand

• Supply

• Price