Understanding Demand and Supply

Understanding Demand and Supply

9th Grade

20 Qs

quiz-placeholder

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Understanding Demand and Supply

Understanding Demand and Supply

Assessment

Quiz

Others

9th Grade

Practice Problem

Hard

Created by

Josefine Kanstrup

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of demand?

The amount producers are willing to sell

The desire and ability of consumers to buy goods at different prices

The total goods available in a market

The cost of producing goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of demand, when price falls...

Quantity demanded falls

Quantity demanded rises

Demand shifts left

Demand stays the same

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On a demand curve, which axis shows price?

X-axis

Y-axis

Both axes

Neither

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor would shift the demand curve for pizza to the right?

Increase in the price of pasta (a substitute)

Decrease in population

Fall in consumer income

Higher production costs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If incomes rise, what usually happens to demand for luxury goods?

Decreases

Increases

Stays the same

Disappears

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A movement along the demand curve is caused by:

Change in price

Change in income

Change in tastes

Change in population

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these best describes a demand curve?

Upward sloping

Downward sloping

Flat horizontal line

Vertical line

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