Search Header Logo
Supply & Demand

Supply & Demand

Assessment

Interactive Video

Business

6th - 8th Grade

Practice Problem

Hard

Created by

Mary Evans

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 _______ refers to how many good and services consumers are willing to buy at a certain price

Supply

Demand

Products

Price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Would the demand increase or decrease if the price of a cup of coffee went from $3 to $8?

Decrease

Increase

Stay the same

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

TRUE or FALSE: The law of demand states that the higher the price, the higher the quantity demanded.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

TRUE or FALSE: The law of demand states that the higher the price, the higher the quantity demanded.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the profit if it costs the owner $1.20 for coffee beans for one cup of coffee and he sells coffee for only $1?

-$0.20

$0.20

-$2.00

$2.00

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the coffee beans (cost of production) go from $1.20 to $2, will the coffee shop owner increase or decrease supply?

increase

decrease

stay the same

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

TRUE or FALSE: The supply curve shifted because the shop owner had to increase the price of coffee.

TRUE

FALSE

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?