Supply and Demand
3 years ago
kahall15
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10 QuestionsShow answers
  • Question 1
    30 seconds
    Q. A group of buyer and sellers of a particular good or service
    answer choices
    Supply
    Demand
    Agency
    Market
  • Question 2
    30 seconds
    Q. This part of the market determines DEMAND
    answer choices
    buyers
    sellers
    suppliers
    store owners
  • Question 3
    30 seconds
    Q. This part of the market determines SUPPLY
    answer choices
    buyers
    sellers
    consumers
    us
  • Question 4
    30 seconds
    Q. For the law of demand, as price rises, what happens to quantity demanded?
    answer choices
    it goes up
    it goes down
    it stays the same
    it is not effected
  • Question 5
    30 seconds
    Q. For the law of supply, as price rises, what happens to quantity supplied?
    answer choices
    it goes up
    it goes down
    it stays the same
    it is not effected
  • Question 6
    30 seconds
    Q. When quantity supplied and quantity demanded is equal
    answer choices
    surplus
    shortage
    equilibrium
    law of demand
  • Question 7
    30 seconds
    Q. If a price is above equilibrium price, it creates a...
    answer choices
    shortage
    surplus
    market price
    demand
  • Question 8
    30 seconds
    Q. If a price is below the equilibrium price it creates a...
    answer choices
    shortage
    surplus 
    market price 
    supply
  • Question 9
    30 seconds
    Q. What does this curve represent?
    answer choices
    demand
    supply
    equilibrium
    shortage
  • Question 10
    30 seconds
    Q. What does this curve represent?
    answer choices
    supply
    equilibrium
    demand
    surplus
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