Supply & Demand Fundamentals Quiz

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Test your understanding of supply and demand.

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Seclot Angie

Filipinas

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Froggy Jumps Supply & Demand Fundamentals QuizVersión en línea Test your understanding of supply and demand. por Seclot Angie 1 What does demand mean in economics? a The quantity of a good buyers are willing to buy at a given price. b Total value of all goods in an economy. c The quantity supplied by producers at a price. 2 What does demand mean in economics? a The quantity of a good buyers are willing to buy at a given price. b Total value of all goods in an economy. c The quantity supplied by producers at a price. 3 What happens to quantity demanded if price rises (ceteris paribus)? a It tends to rise. b It stays the same. c It tends to fall. 4 What is supply in economics? a The quantity of a good producers are willing to sell at a given price. b The quantity buyers want to purchase. c Government regulation of prices. 5 What does the Law of Supply state? a Higher price leads to higher quantity supplied. b Demand curve shifts left. c Higher price leads to lower quantity supplied. 6 When does a market reach equilibrium? a Quantity demanded equals quantity supplied. b Demand exceeds supply. c Prices are highest. 7 What can shift the demand curve? a Technological progress only. b Only price of the good. c Income, prices of related goods, tastes. 8 What can shift the supply curve? a Input costs, technology, subsidies. b Only price of the good. c Population growth only. 9 If the price of a substitute rises, what happens to the demand for the other good? a Remain unchanged. b Increase. c Decrease. 10 A surplus occurs when? a Quantity supplied exceeds quantity demanded. b Demand exceeds supply. c Equilibrium price.

Froggy Jumps

Supply & Demand Fundamentals QuizVersión en línea

Test your understanding of supply and demand.

por Seclot Angie

What does demand mean in economics?

The quantity of a good buyers are willing to buy at a given price.

Total value of all goods in an economy.

The quantity supplied by producers at a price.

What does demand mean in economics?

The quantity of a good buyers are willing to buy at a given price.

Total value of all goods in an economy.

The quantity supplied by producers at a price.

What happens to quantity demanded if price rises (ceteris paribus)?

It tends to rise.

It stays the same.

It tends to fall.

What is supply in economics?

The quantity of a good producers are willing to sell at a given price.

The quantity buyers want to purchase.

Government regulation of prices.

What does the Law of Supply state?

Higher price leads to higher quantity supplied.

Demand curve shifts left.

Higher price leads to lower quantity supplied.

When does a market reach equilibrium?

Quantity demanded equals quantity supplied.

Demand exceeds supply.

Prices are highest.

What can shift the demand curve?

Technological progress only.

Only price of the good.

Income, prices of related goods, tastes.

What can shift the supply curve?

Input costs, technology, subsidies.

Only price of the good.

Population growth only.

If the price of a substitute rises, what happens to the demand for the other good?

Remain unchanged.

Increase.

Decrease.

A surplus occurs when?

Quantity supplied exceeds quantity demanded.

Demand exceeds supply.

Equilibrium price.

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Supply & Demand Fundamentals Quiz

Froggy Jumps

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

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Supply & Demand Fundamentals QuizVersión en línea

por Seclot Angie

What does demand mean in economics?

What does demand mean in economics?

What happens to quantity demanded if price rises (ceteris paribus)?

What is supply in economics?

What does the Law of Supply state?

When does a market reach equilibrium?

What can shift the demand curve?

What can shift the supply curve?

If the price of a substitute rises, what happens to the demand for the other good?

A surplus occurs when?

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