Worksheets6.1 Econ
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
___occurs when the quantity demanded and the quantity supplied at a particular price are equal.
a)
Market Equilibrium
b)
Equilibrium Price
c)
Surplus
d)
Shortage
2.
___ is the result of quantity supplied being greater than quantity demanded
a)
surplus
b)
shortage
c)
price floor
d)
price ceiling
3.
___ is the result of quantity demanded being greater than quantity supplied
a)
shortage
b)
surplus
c)
price floor
d)
price ceiling
4.
If demand increases then price will increase.
a)
true
b)
false
5.
If supply increases then price will fall.
a)
True
b)
False
6.
At $9 the market is experiencing
a)
a surplus
b)
a shortage
c)
equilibrium
d)
a quota
7.
The equilibrium quantity is
a)
50
b)
70
c)
90
d)
7
8.
At $5 the quantity demanded is
a)
50
b)
70
c)
90
d)
7
9.
At $9 the quantity supplied is
a)
50
b)
70
c)
90
d)
7
10.
Assuming this is the market for bottled water, this shift could be caused by
a)
Hurricane Irma
b)
A population decrease
c)
An increase in technology
d)
Government Subsidy
100 %
