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Supply and Demand: The Market Engine Quiz

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15 Questions

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Supply and Demand: The Market Engine: a General level Economics quiz. Test your knowledge with 15 questions!

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Questions

Question 1

What happens when demand increases but supply stays the same?

A Price rises

B No change

C Price drops

D Supply vanishes

Question 2

The point where supply equals demand is called...

A Inflation

B Surplus

C Shortage

D Equilibrium

Question 3

If there is a surplus of goods, what happens to the price?

A It increases

B It stays the same

C It decreases

D It disappears

Question 4

When supply is greater than demand, it is called a...

A Surplus

B Shortage

C Deficit

D Scarcity

Question 5

When demand is greater than supply, it is called a...

A Surplus

B Shortage

C Profit

D Equilibrium

📋 This quiz has 15 questions in total.