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Supply & Demand concepts review

Authored by Jessica Collins

Business

10th Grade

Used 2+ times

Supply & Demand concepts review
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7 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Which graph is being shown?

SUPPLY

DEMAND

EQUILIBRIUM

SCARCITY

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

DEMAND GRAPH:

WHEN PRICE IS HIGH CONSUMERS WILL DEMAND _.

WHEN THE PRICE IS LOW CONSUMERS WILL DEMAND _.

MORE

/

LESS

LESS

/

MORE

EQUILIBRIUM

/

MORE

MORE

/

EQUILIBRIUM

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Supply Graph:

WHEN PRICE IS HIGH PRODUCERS WILL SUPPLY _.

WHEN THE PRICE IS LOW PRODUCERS WILL SUPPLY _.

LESS

/

MORE

MORE

/

LESS

SAME AMOUNT

/

LESS

LESS

/

EQUILIBRIUM

4.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

How much of the goods or services consumers are willing and able to buy is called _

5.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

The amount of a good or service that producers are willing to provide is called _

6.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

_ is an amount left over when requirements have been met

7.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

_is when something is needed but there’s not enough

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