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32. Supply And Demand (2)
Test Description: SocialStudiesGames.net
Instructions: Answer all questions to get your test result.
1) what determines price in a free market?
A
demand
B
supply
C
government
D
supply and demand
2) What is a free market?
A
prices are low, but not quite free
B
everything is free
C
the market is free from government interference and coercion
D
almost everything free
3) If a handful of pizza places open up in town, what economic effect will happen?
A
Low Demand will increase prices
B
High supply will increase prices
C
High supply will decrease prices
D
Low supply will increase prices
4) If a handful of pizza places GO OUT OF BUSINESS in town, what economic effect will happen?
A
Low supply will increase prices
B
Low supply will decrease prices
C
High supply will increase prices
D
Low Demand will increase prices
5) If a research study says that pizza is HEALTHY, what economic effect will happen?
A
high demand will increase prices
B
Low supply will decrease prices
C
high demand will decrease prices
D
Low Demand will increase prices
6) If a research study says that pizza leads to diabetes, what economic effect will happen?
A
Low supply will decrease prices
B
Low Demand will increase prices
C
Low Demand will decrease prices
D
high demand will increase prices
7) Which is an incorrect statement about Supply and Demand?
A
demand ↓ ► price ↓
B
supply ↓ ► price ↑
C
supply ↑ ► price ↑
D
demand ↑ ► price ↑
8) Which is an incorrect statement about Supply and Demand?
A
supply ↑ ► price ↓
B
supply ↓ ► price ↑
C
demand ↓ ► price ↓
D
demand ↑ ► price ↑
9) the amount of good for sale
A
opportunity cost
B
capital
C
supply
D
demand
10) the amount of goods that consumers want to purchase
A
opportunity cost
B
demand
C
capital
D
supply
*select an answer for all questions
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