Supply, Demand and Equilibrium

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Test your knowledge of supply, demand, and equilibrium in this educational game!

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sarah ayyad

Emiratos Árabes Unidos

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Supply, Demand and EquilibriumVersión en línea Test your knowledge of supply, demand, and equilibrium in this educational game! por sarah ayyad 1 Supply and demand have no impact on prices. Yes No 2 The law of demand states that as the price of a good increases, the quantity demanded also increases. Yes No 3 The equilibrium price is always the highest price in the market. Yes No 4 The law of supply states that as the price of a good increases, the quantity supplied also increases. Yes No 5 A shortage occurs when the quantity demanded exceeds the quantity supplied. Yes No 6 Supply and demand determine the price of goods. Yes No 7 A decrease in supply leads to higher prices. Yes No 8 The equilibrium price is also known as the market-clearing price. Yes No 9 The law of demand states that as the price of a good increases, the quantity demanded decreases. Yes No 10 The demand curve slopes downward. Yes No 11 The law of supply states that as the price of a good increases, the quantity supplied decreases. Yes No 12 A shortage occurs when the quantity supplied exceeds the quantity demanded. Yes No 13 A decrease in supply leads to lower prices. Yes No 14 An increase in demand leads to higher prices. Yes No 15 The demand curve slopes upward. Yes No 16 An increase in demand leads to lower prices. Yes No 17 Equilibrium occurs when the quantity supplied equals the quantity demanded. Yes No 18 Equilibrium only occurs in perfectly competitive markets. Yes No

Supply, Demand and EquilibriumVersión en línea

Test your knowledge of supply, demand, and equilibrium in this educational game!

por sarah ayyad

Supply and demand have no impact on prices.

Yes

The law of demand states that as the price of a good increases, the quantity demanded also increases.

Yes

The equilibrium price is always the highest price in the market.

Yes

The law of supply states that as the price of a good increases, the quantity supplied also increases.

Yes

A shortage occurs when the quantity demanded exceeds the quantity supplied.

Yes

Supply and demand determine the price of goods.

Yes

A decrease in supply leads to higher prices.

Yes

The equilibrium price is also known as the market-clearing price.

Yes

The law of demand states that as the price of a good increases, the quantity demanded decreases.

Yes

The demand curve slopes downward.

Yes

The law of supply states that as the price of a good increases, the quantity supplied decreases.

Yes

A shortage occurs when the quantity supplied exceeds the quantity demanded.

Yes

A decrease in supply leads to lower prices.

Yes

An increase in demand leads to higher prices.

Yes

The demand curve slopes upward.

Yes

An increase in demand leads to lower prices.

Yes

Equilibrium occurs when the quantity supplied equals the quantity demanded.

Yes

Equilibrium only occurs in perfectly competitive markets.

Yes

Supply, Demand and Equilibrium

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Supply, Demand and EquilibriumVersión en línea

por sarah ayyad

Supply and demand have no impact on prices.

The law of demand states that as the price of a good increases, the quantity demanded also increases.

The equilibrium price is always the highest price in the market.

The law of supply states that as the price of a good increases, the quantity supplied also increases.

A shortage occurs when the quantity demanded exceeds the quantity supplied.

Supply and demand determine the price of goods.

A decrease in supply leads to higher prices.

The equilibrium price is also known as the market-clearing price.

The law of demand states that as the price of a good increases, the quantity demanded decreases.

The demand curve slopes downward.

The law of supply states that as the price of a good increases, the quantity supplied decreases.

A shortage occurs when the quantity supplied exceeds the quantity demanded.

A decrease in supply leads to lower prices.

An increase in demand leads to higher prices.

The demand curve slopes upward.

An increase in demand leads to lower prices.

Equilibrium occurs when the quantity supplied equals the quantity demanded.

Equilibrium only occurs in perfectly competitive markets.