Supply and Demand part 2
Authored by Roxann Bolst
Social Studies
7th Grade
Used 14+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a graph, supply and demand intersect at equilibrium.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a supply and demand graph, a shift in the curve represents which of the following?
A change in price.
A change in quanitity
A change in an underlying condiditon.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the quantity demanded for a good is less that the quantity supplied?
A suplus will occur and prices will decrease.
A surplus will occur and prices will increase
A shortage will occur and prices will increase.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the quantity supplied is greater than the quanitity demanded.
A surplus will occur and prices will decrease.
A surplus will occur and prices will increase
A shortage will occir and prices will increase.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a curve shifts to the right on a graph, this means that the quantity demanded or the quanitity supplied has increased.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a curve shifts to the left on a graph this means that the quanitity supplied or the quanitity demanded has decreased.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A shift of a supply or demand curve can be caused by influencers duch as income of byers and number of sellers.
True
False
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