Supply and Demand Quiz

Question 1

An increase of chicken sandwiches is the same supply of sandwiches but a high demand

Accepted Answer

True

Question 2

How does price affect supply and demand?

Accepted Answer

when a price is fixed, supply and demand both change

Question 3

What is a surplus?

Accepted Answer

too much of something

Question 4

The reason we can not find Clorox wipes at the stores is because....

Accepted Answer

demand is too high

Question 5

Which of the following details from the story describe how buyers affect supply and demand?

Accepted Answer

everyone had different preferences and values, which can impact buying

Question 6

Market equilibrium benefits both buyers and sellers

Accepted Answer

True

Question 7

scarcity of an item may cause the price of an item to rise dramatically

Accepted Answer

True

Question 8

The author's purpose for writing the last section of the text is that all people play a role in supply and demand.

Accepted Answer

True

Question 9

What is the job of economist?

Accepted Answer

to analyze the changes in the cost of goods and services

Questions 9