Supply & Demand

Supply & Demand

9th Grade

58 Qs

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Supply & Demand

Supply & Demand

Assessment

Quiz

Social Studies

9th Grade

Practice Problem

Hard

Created by

Amber S

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58 questions

Show all answers

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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