Exploring Supply and Demand Dynamics

Exploring Supply and Demand Dynamics

Assessment

Interactive Video

Social Studies

6th - 10th Grade

Practice Problem

Hard

Created by

Jackson Turner

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in analyzing market equilibrium?

Pinpointing the equilibrium

Drawing the demand curve

Drawing the supply curve

Labeling the axes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to price and quantity when demand increases?

Both price and quantity go down

Price goes down, quantity goes up

Price goes up, quantity goes down

Both price and quantity go up

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When demand decreases, what happens to the equilibrium price and quantity?

Both price and quantity increase

Both price and quantity decrease

Price increases, quantity decreases

Price decreases, quantity increases

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does an increase in supply affect price and quantity?

Both price and quantity go down

Both price and quantity go up

Price goes down, quantity goes up

Price goes up, quantity goes down

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the effect on price and quantity when supply decreases?

Price goes down, quantity goes up

Both price and quantity go down

Price goes up, quantity goes down

Both price and quantity go up

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When both supply and demand increase, what is the net effect on quantity?

Quantity fluctuates

Quantity decreases

Quantity remains the same

Quantity increases

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a scenario where demand increases more than supply, what happens to the price?

Price fluctuates

Price remains the same

Price decreases

Price increases

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