Supply and Demand
Authored by Kyle OFier
Social Studies
6th - 12th Grade
Used 2+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a supply and demand graph, the point in which the supply line and demand line cross is called what?
rise
hop
equilibrium
fold
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is an economic principle that describes a consumers desire and willingness to pay a price for a specific
surchage
good or service
limited resource
expansion
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation refers to a general increase in prices and fall in the purchasing value of money.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is known as the "basic economic problem" meaning that these goods/resources may not always exist?
Supply
Demand
Scarcity
Complementary Goods
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a complementary good would be Pepsi and Coca Cola.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If there is a drought in strawberries and more people want strawberries than there are available, there is a high ________ for strawberries.
Demand
Surcharge
Quantity
Additive
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is not a real-world scarcity example?
oil
water
space and time
land
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