Supply and Demand

Supply and Demand

University

25 Qs

quiz-placeholder

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Supply and Demand

Supply and Demand

Assessment

Quiz

English

University

Practice Problem

Hard

CCSS
HSF.LE.B.5, 8.EE.B.5, HSF-LE.A.1B

Standards-aligned

Created by

Sarah Williams

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the quantity of a good that producers are willing and able to sell at a given price?

Quantity demanded

Quantity supplied

Price

Equilibrium price

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

At equilibrium, what is the relationship between quantity demanded and quantity supplied?

Equal

Greater

Less

Undefined

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the quantity of a good that consumers are willing and able to buy at a given price?

Quantity demanded

Quantity supplied

Price

Equilibrium price

Tags

CCSS.HSF.LE.B.5

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The desire or willingness a consumer has to purchase a good or a service is called:

demand

shortage

supply

price

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The amount of a good or service that is available to consumers:

supply

demand

service

product

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Cold weather in Florida has damaged this year’s orange crop. Farmers have only half of the usual amount of oranges to sell. What will happen to the price of oranges?

The price will increase

The price will decrease

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When the demand for a product or service is higher than the supply this causes what?

shortage

surplus

consumer

equilibrium

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