WorksheetsMarketing 3.2 Supply & Demand
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
Understanding economics helps consumers and producers use their resources effectively.
a)
True
b)
False
2.
Macroeconomics studies how individuals make decisions about what to produce and what to consume.
a)
True
b)
False
3.
Consumers will pay more for a product if the supply of that product increases.
a)
True
b)
False
4.
A supply curve demonstrates the relationship between price and the quantity of a product supplied.
a)
True
b)
False
5.
As competition increases, businesses find greater opportunities for success.
a)
True
b)
False
6.
As the price of a product increases, businesses will produce more of that product if possible.
a)
True
b)
False
7.
A supply curve and a demand curve are usually parallel.
a)
True
b)
False
8.
The point at which supply and demand are equal for a product is known as
a)
the demand curve
b)
the supply curve
c)
the market price
d)
supply and demand are never equal
9.
Marketers are most interested in
a)
microeconomics
b)
macroeconomics
c)
price increases
d)
government regulation
10.
If there are no alternative products to satisfy consumers’ needs,
a)
the supply will be large
b)
the price will be low
c)
supply and demand are unaffected
d)
consumers will pay more
11.
All of the consumers who will purchase a particular product or service comprise a(n)
a)
supply
b)
economic market
c)
economy
d)
market group
100 %
