Supply and Demand

Supply and Demand

Assessment

Interactive Video

Social Studies

8th Grade

Practice Problem

Medium

Created by

Dennis Dow

Used 6+ times

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is the key to markets?

Money

Voluntary Exchange

Involuntary Exchange

Businesses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a voluntary exchange?

Buyers and sellers begrudgingly make a transaction.

Buyers and sellers willingly make a transaction.

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

What happens to the price of strawberries if farmers produce too many?

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What happens to the price of strawberries if the farmer doesn't produce enough?

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are price signals?

The advertisements that companies make that tell you the price for goods.

The information that the government generates to guide a distribution of resources.

The information that the market generates to guide a distribution of resources.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do markets incentivize?

Money making schemes.

The production of low quality goods.

The production of goods.

The production of high quality goods.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the price goes up, producers want to make more, when the price goes down, producers want to make less is an example of what?

Law of demand

Law of supply

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