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Supply And Demand Quizzes & Trivia

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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: 5098   |  Last updated: Sep 5, 2017
  • Sample Question
    A group of people buying and selling goods or services. This is the definition for:

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: 13479   |  Last updated: Jan 5, 2021
  • Sample Question
    Which of the following is not a component of demand?

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

Questions: 10  |  Attempts: 1610   |  Last updated: Jan 7, 2013
  • Sample Question
    A price floor is binding if:

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

Questions: 5  |  Attempts: 1219   |  Last updated: Aug 26, 2019
  • Sample Question
    Price is the determining factor of both suppy and demand?

For every demand there must be a supply and if the demand for a product or service exceeds the supply there is a gap in the market. The quiz below is a study test for the Ch. 3 McConnell and Brue 15 ed on individual markets....

Questions: 25  |  Attempts: 1129   |  Last updated: Dec 10, 2018
  • Sample Question
    A market is any arrangement that brings together the buyers and sellers of a particular good or service.
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Supply And Demand Questions & Answers


What should be done when there is a shortage of the product?
In order to maintain profits the price will need to be increased.
Which amongst desire, surplus, ability, willingness is not a component of demand?
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 the amount a producer gain from s
More More supply and demand Questions