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

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


Top Quizzes Today

Score Distribution

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.