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WorksheetsSupply and Demand: Crash Course Economics #4
Total questions: 10
Worksheet time: 50mins
A _____ is any place where buyers and sellers meet to exchange goods and services.
market
swap meet
mall
command economy
Most markets are based on (a) exchange.
The information that markets generate to guide a distribution of resources is what economists call ________
price signals
market options
supply and demand
emu ninja spies
What factors determine where resources should go?
prices
profit
marketing plans
invisible hand
According to the law of demand, when the price goes up, people buy _____, and when the price goes down, the people buy _____.
less, more
more, less
big, small
gold, options
When we graph the supply curve and the demand curve, we find the price where supply equals demand. That is called the (a) price.
What can happen in a market?
Supply can increase
Supply can decrease
Demand can increase
Demand can decrease
Because of ethical questions, the market around organ donation should be completely unregulated.
False
True
The Law of Supply and Demand is not an absolute law.
True
False
The supply of government services, like firefighters and police officers, should not operate according to the market approach.
True
False
