Have an account?
Skip to Content
Introducing new Paper mode
No student devices needed. Know more
15 questions
Show Answers
See Preview
- Multiple ChoicePlease save your changes before editing any questions.
Supply is how much of a good or service is available to buy.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Demand is how much of a good or service people want to buy.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
When the demand is high, and the supplyis low the ________of goods or services goes up.
price
goods
service
consumer
- Multiple ChoicePlease save your changes before editing any questions.
You are a __________;you buy things like video games and sneakers.
price
consumer
goods
services
- Multiple ChoicePlease save your changes before editing any questions.
Things that people make or grow are called_____________.
goods
services
consumers
price
- Multiple ChoicePlease save your changes before editing any questions.
Supply and demand work hand in hand to raise and______________the price of things.
raise
lower
consumer
price
- Multiple ChoicePlease save your changes before editing any questions.
When people work for others; it is called a_______________, like a doctor or bus driver.
goods
consumer
price
service
- Multiple ChoicePlease save your changes before editing any questions.
Lucas fixes his friend's sink. He is providing a_____________.
trade
opportunity cost
product
service
- Multiple ChoicePlease save your changes before editing any questions.
When the supply of a good is low, and demand is high, wahat usually happens to the price of the good?
It goes up
It goes down
It doesn't change
- Multiple ChoicePlease save your changes before editing any questions.
A restaurant makes special hamburger. Everyone loves the hamburger and wants to orer it. Every night the restaurant runs out of hamburgers after only and hour. What will most likely happen to the price of the burger?
The price of the hamburger will go up.
The price of the hamburger will go down.
The price of the hamburger will not change.
- Multiple ChoicePlease save your changes before editing any questions.
Shella sells t-shirts that she paints. She just painted lots of shirts and has many available for sale. But it's winter and cold. Not many people want t-shirts. What would be the best thing for Shella todo to get people to buy them?
She shouldn't change the price of the t-shirt.
She should raise the price of the t-shirt.
She should lower the price of the t-shirt.
- Multiple ChoicePlease save your changes before editing any questions.
Which group of people are mosted interested in demand?
store owners
consumers
children
mothers
- Multiple ChoicePlease save your changes before editing any questions.
Supply and demand work together in a market____________.
planet
society
economy
- Multiple ChoicePlease save your changes before editing any questions.
For the economy to be successful businesses need to sell and shopers must be willing to spend their____________.
savings
money
business
goods
- Open EndedPlease save your changes before editing any questions.
Write two things you learned today about supply and demand.