Demand and Supply- EconMovies #4: Indiana Jones (Reupload)

Demand and Supply- EconMovies #4: Indiana Jones (Reupload)

Assessment

Interactive Video

Business

11th Grade - University

Hard

Created by

Quizizz Content

FREE Resource

Mr. Clifford introduces Econ Movies by exploring economic concepts in Indiana Jones. The video explains demand and supply, using pet snakes as an example to illustrate market dynamics. It covers the concepts of equilibrium, shortage, and surplus, and discusses how changes in related markets, like substitutes, affect demand and supply. The video concludes with a humorous nod to Indiana Jones' preferences.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of the initial discussion in the video?

The role of Indiana Jones as an economist

The basic concepts of demand and supply

The history of archaeology

The importance of maps in economics

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the demand for pet snakes when their price is very high?

Demand increases significantly

Demand remains unchanged

Demand decreases

Demand becomes unpredictable

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between price and quantity demanded, as shown by the demand curve?

Direct relationship

Exponential relationship

Inverse relationship

No relationship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used when the quantity demanded equals the quantity supplied?

Inflation

Surplus

Shortage

Equilibrium

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What occurs when the price of a substitute good, like pet monkeys, decreases?

Demand for pet snakes increases

Demand for pet snakes decreases

Supply of pet snakes decreases

Supply of pet snakes increases

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a pest control problem affect the demand for pet snakes?

Demand becomes erratic

Demand remains unchanged

Demand decreases

Demand increases

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Indiana Jones' preferred pet according to the video?

A pet snake

A pet monkey

A pet dog

A pet camel