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Supply and Demand Quiz
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Questions in this quiz (10)
1In a supply and demand graph, when the demand line shifts to the right, the demand increases.
- ATrue
- BFalse
2Taxes and subsidies are variables that can affect the supply shift factor.
- ATrue
- BFalse
3When the price on an item increases, the supply provided by the sellers decreases.
- ATrue
- BFalse
4When talking about the elasticity of demand, the price of an item is not important.
- ATrue
- BFalse
5A market takes place when more than one buyer and seller are present.
- ATrue
- BFalse
6In an inelastic graph, there is a huge change in demand when the price shifts.
- ATrue
- BFalse
7The graph of elastic supply is less horizontal compared to the inelastic graph
- ATrue
- BFalse
8The production of Jolly Ranchers is an example of inelastic supply
- ATrue
- BFalse
9When a supply curve shifts to the left, that symbolizes an increase in supply.
- ATrue
- BFalse
10The point where the supply curve meets the demand curve shows a shortage.
- ATrue
- BFalse
Information
- Description
- Quiz on Supply and Demand Quiz, created by brendacrystal07 on 23/10/2014.
- Author
- brendacrystal07
- Language
- English
- Views
- 141
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- Rating
- 4.0 out of 5 · 1 rating Rate this quiz