Supply and Demand (Unit 2)

Supply and Demand (Unit 2)

9th Grade

66 Qs

quiz-placeholder

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Supply and Demand (Unit 2)

Supply and Demand (Unit 2)

Assessment

Quiz

History

9th Grade

Practice Problem

Medium

Created by

Elizabeth Fox

Used 43+ times

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66 questions

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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

movement along the demand curve.

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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