Miscellaneous / Supply and Demand

Random Miscellaneous or definition Quiz

Can you name the Supply and Demand Basics?

Quiz not verified by Sporcle

Score 0/20 Timer 07:00
DefinitionEconomic Term
As demand for one product rises, this also rises
When supply and demand are equal
The network in which buyers and sellers interact to exchange goods and services for money
One of the earlier writings on how both supply and demand interacted to determine price
Anything that anyone wants
When not enough of a good is available
When too much of a good is available
Represented by the letter 'Q' on a supply and demand chart
How much the market can offer
Represented by the letter 'P' on a supply and demand chart
DefinitionEconomic Term
The value of a this will change as the levels of supply rise and fall
The result from the actual demand for a given product being lower than the projected, or estimated, demand for that product
Desired quantity of a good
This type of supply and demand is typically thirty days or less
This man further developed and popuralized the supply and demand model in 1890
'The higher the price, the lower the quantity demanded'
Under the assumption of perfect competition, supply is determined by
A person who buys goods and services
How supply and demand respond to various factors
This type of supply and demand is usually a time period of a year or more

You're not logged in!

Compare scores with friends on all Sporcle quizzes.
Sign Up with Email
Log In

You Might Also Like...

Show Comments


Your Account Isn't Verified!

In order to create a playlist on Sporcle, you need to verify the email address you used during registration. Go to your Sporcle Settings to finish the process.