Supply and Demand
4 years ago
elmoldenhauer
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10 QuestionsShow answers
  • Question 1
    30 seconds
    Q. When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 
    answer choices
    rise
    fall
    stay the same
    Consumer
  • Question 2
    30 seconds
    Q. When the demand for a product or service is higher than the supply this causes what?
    answer choices
    shortage
    consumer
    surplus
    equilibrium
  • Question 3
    30 seconds
    Q. Factors that cause the supply or demand to change are called?
    answer choices
    equilibrium
    shifter
    demand
    producer
  • Question 4
    30 seconds
    Q. a person or company that makes, grows, or supplies goods to sell is called the?
    answer choices
    damand
    price
    producer
    shortage
  • Question 5
    30 seconds
    Q. The desire or willingness a consumer has to purchase a good or a service is called?
    answer choices
    shortage
    supply
    price
    demand
  • Question 6
    30 seconds
    Q. The amount of goods or services available is called?
    answer choices
    supply
    demand
    producer
    consumer
  • Question 7
    30 seconds
    Q. An individual or group who purchases goods.
    answer choices
    producer
    consumer
    goods
    services
  • Question 8
    30 seconds
    Q. The point where supply and demand are balanced is?
    answer choices
    product
    demand
    surplus
    equilibrium
  • Question 9
    30 seconds
    Q. When there is a shortage the price will usually? 
    answer choices
    rise
    fall
    remain the same
    equilibrium
  • Question 10
    30 seconds
    Q. In economics these concepts are called?
    answer choices
    rise and fall
    supply & demand
    customers and products
    surplus and shortage
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