Changes in Supply & Demand
Authored by Kayla Ash
Social Studies
9th - 12th Grade
Used 13+ times
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16 questions
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1.
MATCH QUESTION
1 min • 1 pt
Match the following determinants of demand
Expectations
Amount of buyers in the market
Market Size
Complimentary & Substitute Goods
Related Prices
Influence & popularity of products
Income
Amount of money consumers have to spend
Tastes
Buyers preparing for a future event
2.
MATCH QUESTION
1 min • 1 pt
Match the following determinants of supply
Input Prices
#of sellers producing product
Related Prices
Suppliers preparing for a future event
Expectations
Cost of production factors to make products
Technology
Updated or new machinery or tools
Competition
Complimentary & Substitute Goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: NO MATTER WHAT if you INCREASE Demand or Supply it is a shift to the RIGHT
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: NO MATTER WHAT if you DECREASE Demand or Supply it is a shift to the LEFT
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a substitute?
Use in place of something similar quality
The opposite of another good
Use an exact replica of the same good
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a complimentary good?
A good you would use to enjoy another good
The opposite of another good
Use an exact replica of the same good
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer get a tax cut. What happens in the market for TVS? What's the determinant?
Demand Increases due to changes in INCOME
Supply Increases due to changes in TECHNOLOGY
Supply Increases due to changes in COMPETITION
Demand Decreases due to changes in MARKET SIZE.
Demand Decreases due to changes in INCOME
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