Supply & Demand
Quiz
•
Social Studies
•
9th Grade
•
Practice Problem
•
Hard
Amber S
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58 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of demand in economics?
Quantity producers are willing to sell at a given price
Consumer’s desire and ability to pay for a product
Total quantity of a product available in the market
How much producers want to produce
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does “quantity demanded” mean?
How much consumers want at all prices
How much producers will supply
How much consumers will buy at a specific price
How much all firms produce
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Law of Demand states:
Price ↑ → Quantity Demanded ↑
Price ↑ → Quantity Demanded ↓
Price ↓ → Quantity Demanded ↓
Price ↓ → Quantity Demanded stays the same
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand curve typically slopes:
Upward from left to right
Downward from left to right
Vertical
Horizontal
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand schedule shows:
Relationship between price and quantity supplied
How much producers make at each price
Relationship between price and quantity demanded
Taxes and subsidies
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A change in demand is shown by:
A) A movement along the demand curve
B) The curve shifting left or right
C) The price staying constant
D) Government setting prices
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in demand is shown by:
Curve shifts left
Curve shifts right
Curve goes up
Curve goes down
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