
Supply and Demand (Unit 2)

Quiz
•
History
•
9th Grade
•
Medium
Elizabeth Fox
Used 43+ times
FREE Resource
66 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A demand schedule is best described as ______.
a graph.
an incentive.
data.
a time line.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price of something increases, the quantity demanded ____.
increases.
decreases.
remains unchanged.
reverses.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consider the term marginal utility. Which word is the best synonym for marginal?
useful
satisfactory
borderline
additional
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is a demand curve downward sloping?
because quantity demanded increases as price decreases
because of the natural elasticity of the market
because it shows how increasing incentives changes demand
because it reflects the desire, ability, and willingness of consumers
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is the Law of Demand called a "law"?
because it is legally required
because there are no exceptions to it
because it has been demonstrated repeatedly
because it is an economic term
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A change in quantity demanded is represented by
a shift of the demand curve.
substitution.
complements.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main cause of a change in quantity demanded?
substitution
changes in revenue
change in price
the income effect
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