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WorksheetsEcon: Supply & Demand
Total questions: 10
Worksheet time: 5mins
After eating a third hamburger in a row, you notice you are not enjoying the taste as much as your stomach is hurting. You probably should have just had two. You are experiencing:
Negative incentives
Diminishing marginal utility
Decrease in demand
Scarcity
The United States is a:
Market economy
Command economy
Mixed economy
Traditional economy
What kind of curve is this?
PPC
Demand
Supply
Market
What kind of curve is this?
PPC
Demand
Supply
Command
What is the equilibrium price?
$1.00
$.80
$.70
$.50
What type of schedule is this?
Demand
Supply
Equilibrium
PPC
What is the equilibrium quantity?
6 oranges
7 oranges
8 oranges
9 oranges
Price is ALWAYS on the:
Horizontal (X) axis
Vertical (Y) axis
Command economy is when _____ controls factors of production.
Private businesses
Individuals
Government
A sense of happiness and fulfillment with your place in the world
The law of demand states that when the price increases, quantity demanded _____.
Increases
Decreases
Stays the same
Evolves
