Supply And Demand Quizzes & Trivia

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: 1750   |  Last updated: Jan 4, 2013
  • Sample Question
    Which of the following is not a component of demand?

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

Questions: 5  |  Attempts: 809   |  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: 743   |  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.

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

Questions: 10  |  Attempts: 412   |  Last updated: Jan 7, 2013
  • Sample Question
    A price floor is binding if:

Questions: 25  |  Attempts: 279   |  Last updated: Jan 17, 2013
  • Sample Question
    What is the definition of "Aggregate Demand"?

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
What does the law of demand state?
Less will be demanded, the question doesn't make sense (needs multiple answers).
What is the definition of aggregate demand?
3. The level of demand for all goods and services during a given period of time
When there is a shortage what should be done?
In order to maintain profits the price will need to be increased.