Supply and Demand Review
Presentation
•
Social Studies
•
12th Grade
•
Hard
Joseph Anderson
FREE Resource
6 Slides • 13 Questions
1
2
Sellers
Price Low; Quantity Low
Price High; Quantity High
Uphill Curve
3
Buyers
Price Low; Quantity High
Price High; Quantity Low
Downhill Curve
4
Drag and Drop
5
Buyers
Price Low; Quantity High
Price High; Quantity Low
Downhill Curve
6
Multiple Choice
Which of the following describes why surpluses are above the equilibrium price?
prices above equilibrium are higher so buyers don't purchase as many
prices above equilibrium are high so sellers don't produce as many
7
8
Multiple Choice
Which of the following describes why shortages are below the equilibrium price?
prices below equilibrium are lower so more buyers make purchases
prices below equilibrium are low so sellers make more available so they will have enough for all buyers
9
Multiple Choice
"A seller's market arises when demand exceeds supply. In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage. In a seller's market, homes sell faster, and buyers must compete with each other in order to score a property." Which graph corresponds with the mrket described in the quote?
10
Buyers
Price Low; Quantity High
Price High; Quantity Low
Downhill Curve
11
Match
Match the description of what's happening with its graph.
Price Increased & Quantity Demanded Decreased
Demand Decreased & Price Decreased
Demand Increased & Price Increased
Price Decreased & Quantity Demanded Increased
Price Increased & Quantity Demanded Decreased
Demand Decreased & Price Decreased
Demand Increased & Price Increased
Price Decreased & Quantity Demanded Increased
12
Labeling
Label the following
13
Match
Match the description of what's happening with its graph.
Price Increased & Quantity Supplied Increased
Supply Decreased & Price Increased
Supply Increased & Price Decreased
Price Decreased & Quantity Supplied Decreased
Price Increased & Quantity Supplied Increased
Supply Decreased & Price Increased
Supply Increased & Price Decreased
Price Decreased & Quantity Supplied Decreased
14
Multiple Choice
Which of the following would cause more people to want a product and what's pictured in the graph?
a well-liked celebrity wears the product in public
product makes users break out in a rash that won't go away
amounts of customers' paychecks fall
vacation spot has 5 shark attacks in a day
15
Labeling
Label the following
16
Multiple Choice
Which of the following shows an increase in price because more buyers want the product?
17
Multiple Choice
Which of the following shows what would happen if a product is proven to cause cancer?
18
Multiple Choice
Which of the following would decrease supply & cause this to happen in a market?
delivery truck breaks down
cost of input goes down
new equipment speeds up production process
employees come to work well rested & wide awake
19
Match
Match the following graphs to their descriptions.
more buyers want a product & it becomes more expensive
more of an item is produced & it becomes less expensive
fewer people want a product & its price falls
less of a product is available & its price rises
more buyers want a product & it becomes more expensive
more of an item is produced & it becomes less expensive
fewer people want a product & its price falls
less of a product is available & its price rises
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