Have an account?
Skip to Content
Build your own quiz
16 questions
Show Answers
See Preview
- 1. Multiple Choice
A person who starts their own business is called a/an
Produced
Consumer
Entrepreneur
Want
- 2. Multiple Choice
Last spring, toilet paper was an example of a SHORTAGE/SCARCITY.
True
False
- 3. Multiple Choice
When many people want to buy the same item, it is considered to be
low in demand
high in demand
a producer
a consumer
- 4. Multiple Choice
When there is more than enough of a product to sell, this is considered
a consumer
a scarcity
a shortage
a surplus
- 5. Multiple Choice
Everyone wants to buy the brand new gaming system that has just come out in stores. This means the price of the gaming system will be high.
True
False
- 6. Multiple Choice
You asked your parents to buy you the new gaming system that just came out. This is an example of a ___________.
need
want
- 7. Multiple Choice
Check the following items that are needs.
food
candy
clothes
jewelry
- 8. Multiple Choice
Check the following items that are WANTS.
food
candy
shoes
jewelry
- 9. Multiple Choice
Weather forecasters expect a hot, dry summer in the parts of Africa where bananas grow. Bananas do not grow well in hot and dry weather. What will probably happen to the overall supply of bananas?
The supply will probably go up.
The supply will probably go down.
- 10. Multiple Choice
A drought has made this year's tomato harvest smaller than usual. What will probably happen to the overall supply of tomato sauce?
The supply will probably go up.
The supply will probably go down.
- 11. Multiple Choice
The city of Booneville has been one of the world's biggest makers of cough drops for many years. But last month, Booneville's cough drop factories were destroyed by floods. What will probably happen to the overall supply of cough drops?
The supply will probably go up.
The supply will probably go down.
- 12. Multiple Choice
According to a recent newspaper story, more Americans own dogs than ever before. As a result, ten new companies start making and selling dog food. What will probably happen to the overall supply of dog food?
The supply will probably go up.
The supply will probably go down.
- 13. Multiple Choice
Next winter is expected to be colder and snowier than usual. What will probably happen to the overall demand for ski boots?
The demand will probably go up.
The demand will probably go down.
- 14. Multiple Choice
A recent news story said that doctors recommend getting 45 minutes of exercise every day. It said that getting enough exercise is important for good health. What probably happened to the demand for gym memberships after the story was published?
The demand probably went up.
The demand probably went down.
- 15. Multiple Choice
Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?
The demand will probably go up.
The demand will probably go down.
- 16. Poll
How do you feel about your understanding of SUPPLY and DEMAND?
I got this!
I am getting there but still need more practice.
I don't understand at all.
- Answer choicesTagsAnswer choicesTags