Demand, Supply and Price
Presentation
•
Social Studies
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9th - 12th Grade
•
Practice Problem
•
Medium
DEWITT JOHNSON
Used 9+ times
FREE Resource
1 Slide • 10 Questions
1
Multiple Choice
Which of the following is an example of a microeconomic decision?
Deciding whether to stop at the store before school
Setting national interest rates
Determining the unemployment rate
Measuring the GDP of a country
2
Multiple Choice
When prices go up, what happens to the quantity demanded according to the law of demand?
Quantity demanded goes down
Quantity demanded goes up
Quantity demanded stays the same
Quantity demanded doubles
3
Multiple Choice
4
5
Multiple Choice
Which of the following best describes the concept of supply in economics?
The amount of a product offered for sale at different prices
The amount of money a store makes
The number of stores in a city
The demand for a product
6
Multiple Select
Select all the factors that stores must consider when deciding what products to stock and at what price (based on images 0 and 1).
The price they can charge
The quantity they can supply
The demand for the product
The cost of production
7
Multiple Choice
8
Fill in the Blanks
The monetary value of a product as established by supply and demand is called
9
Multiple Choice
Which of the following statements about market equilibrium is correct?
It is when the quantity supplied equals the quantity demanded
It is when prices are always rising
It is when there is always a surplus
It is when demand is greater than supply
10
Multiple Choice
What determines the price and the quantity produced of most goods?
11
Multiple Choice
According to the graph, what is the equilibrium price where the market demand and supply curves intersect?
$15
$10
$20
$25
Which of the following is an example of a microeconomic decision?
Deciding whether to stop at the store before school
Setting national interest rates
Determining the unemployment rate
Measuring the GDP of a country
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MULTIPLE CHOICE
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