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Supply And Demand Quizzes & Trivia

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This quiz covers the basics of demand & supply. All questions come from your Introduction to Demand, Introduction to Supply, and Determining Price Notes. You will have 1 minute to answer each question.

Questions: 10  |  Attempts: 13272   |  Last updated: Jan 4, 2013
  • Sample Question
    Which of the following is not a component of demand?

Supply and demand affects the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. This is the major market driver and hence necessary to know about.

Questions: 10  |  Attempts: 4852   |  Last updated: Sep 5, 2017
  • Sample Question
    A group of people buying and selling goods or services. This is the definition for:

To test the knowledge of students on the topic of supply and demand.

Questions: 5  |  Attempts: 1166   |  Last updated: Aug 26, 2019
  • Sample Question
    Price is the determining factor of both suppy and demand?


Questions: 100  |  Attempts: 403   |  Last updated: Feb 13, 2013
  • Sample Question
    Demand for a commodity refers to :

You will have 30 minutes to complete the 10 question quiz by Monday night at 11:59 p.m.

Questions: 10  |  Attempts: 1538   |  Last updated: Jan 7, 2013
  • Sample Question
    A price floor is binding if:
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Supply And Demand Questions & Answers


Which of the following is not a component of demand?
The correct answer is option B. Surplus occurs for a consumer when the difference in the price a consumer set aside or is willing to pay for a particular commodity is higher than the actual price of that commodity. It also occur for a producer when
When there is a shortage what should be done?
In order to maintain profits the price will need to be increased.
What will be the reason for a decrease in price (resulting in an increase in total revenue)?
Business is a complicated matter. However, there are certain basics that will always remain the same. For instance, a person selling products at a specific rate may earn less than another person selling the same thing at a lower price. This is becaus
Which market will the majority of a tax be paid by the consumer?
The correct answer to this question is B, market (b). Tax is a word which derives from the Latin word taxo. It is a charge which a taxpayer is required to pay by the government. Failure to pay taxes can lead to punishments by law. There are various t
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