Supply and Demand Worksheets Printable

What are the Four Factors of Production: Capital, Entrepreneurship, Land, Labor. Which factor of production would the following be?Oil: Natural Resources. Which factor of production would the following be?Money: Capital. Which factor of production would the following be?Financing a Business: Entrepreneurship. Defined as a state in which there is a limited number of resources available: Scarcity. If I am given an option to buy a something and get a second one free this is an example of a... : Incentive. As price goes down, demand goes up is an example of what? : The Law of Demand. The Demand Curve always… : Curves down to the right. Consuming more of one good because of a change in price of another good is known as the…: The Substitution Effect. Goods that are bought together such as Milk and Cereal are known as: Complimentary Goods. The desire to own something and the ability to afford it is known as..: Demand. What determines the price and the quantity produced of most goods? : The interactions between supply and demand. What is quantity of a good or service that producers sell at a market price: Supply . A term used to describe when supply and demand are balanced: Equilibrium . A financial gain especially the difference between the amount earned and the amount spent on something is known as: Profit. An Entrepreneur is..: . A product that shows a happy couple using a product is an example of advertising using..: Pathos. An advertisement that shows the nutrition facts for a bottle of juice is using which method of persuasion: Logos. Shaquille O'Neal advertising the product Icy Hot is an example of which persuasion technique: Ethos. Economics with a look at large scale problems such as unemployment and national inflation is an example of..: Macro Economics. Economics that looks at smaller issues such as when to release a new product at a local business is an example of..: Micro Economics. The consequences of choices that people make in economics always : Lies in the future. When people economize they are..: Choosing between alternatives that they perceive to have the best benefits over cost

Test your knowledge of supply and demand with the help of our engaging quiz.

Test your knowledge about Supply and Demand! Learn economics basics with this quiz. Understand elasticity, costs, and more today!

Explore how Supply and Demand affects the market and see how well you do on this review quiz!

Practice your understanding of supply and demand with the help of our fun quiz.

Test your knowledge about various economics factors and see how you do on the Economics quiz!

Learn the basics of Supply and Demand! Explore the consumer, the market, and economic principles. Take the Supply and Demand quiz and start learning now!

Test your knowledge on the Elasticity of Demand quiz and get educated today!

Test your knowledge about The Law of Supply, and The Determinants of Demand. See how it impacts demand and test your knowledge!

A decrease in quantity demanded: results in a movement upward and to the left along a demand curve.. Which of the following would cause the demand curve to shift from Demand B to Demand C in the market for DVDs in the United States: a decrease in the price of DVD players. A decrease in the price of a good will: decrease quantity supplied.. Which of the following would not shift the supply curve for iphones: an increase in the price of iphones. The law of supply and demand asserts that: the price of a good will eventually rise in response to an excess demand for that good.

The desire to have some good or service and the ability to pay for it: demand. Which of these best describes the law of demand: if prices go up, quantity demanded will fall and if prices go down, quantity demanded will go up. A change in the price of a good causes people to buy more or less of an item. This best describes the concept of : change in quantity demanded. The diagram represents a: increase in demand at every price level. The phrase "a change in demand" most directly implies a : shift in the demand curve. When the price of good A rises, people start to drink good B. In this case, what is good B considered: substitute good. A decrease in the average incomes of consumers will result in which of the following: A decrease in the demand for goods and services. The formula for calculating elasticity of demand is:: The % change in quantity demanded over the % change in price. Why does demand generally become more elastic over time: People have time to find substitutes and change behaviors.. What does cross elasticity measure: Measures the responsiveness of the quantity demanded of one good to changes in price of another good.

Supply and Demand have lots of vocabulary! Review all of the definitions and test your knowledge with the quiz today!

What exists when quantity supplied is greater than quantity demanded: Surplus. A market is said to be in equilibrium when: when the demand and supply quantities are equal. Kanye West's new shoe the Yeezy Boost sold out in stores. This is an example of..: shortage. What happens to price when the market has a surplus: price drops. This part of the market determines DEMAND: buyers. This part of the market determines SUPPLY: sellers. For the law of demand, as price rises, what happens to quantity demanded: it goes down. When quantity supplied and quantity demanded is equal: equilibrium. The diagram represents a: increase in demand. What does this graph show: Surplus. What is the Equilibrium Price: 3. When there is a shortage the price will usually? : rise. Take a look at the graph below. Label the curves by filling in the blanks. The supply curve is __________________ and the demand curve is _________________: red ..... blue. The law of demand says that as prices go ________________, consumers buy _______________ of that product: down .... more . What does this curve represent: Demand

A group of buyer and sellers of a particular good or service: Market. This part of the market determines DEMAND: buyers. This part of the market determines SUPPLY: sellers. For the law of demand, as price rises, what happens to quantity demanded: it goes down. For the law of supply, as price rises, what happens to quantity supplied: it goes up. When quantity supplied and quantity demanded is equal: equilibrium. If a price is above equilibrium price, it creates a..: surplus. If a price is below the equilibrium price it creates a..: shortage. What does this curve represent: supply

consumers willingness and ability to purchase a good at all price points: demand . point where QS and QD are equal: equilibrium. situation in which QD is greater than QS, price is below equilibrium: shortage. situation in which QD is less than QS, price is above equilibrium : surplus. factor that causes a change in supply or demand: determinant

In general, if the price of a good or service goes down, what happens to the demand for that good or service: demand goes up. Amazon Prime is selling Smencils.  There are only a few packs left and they are very popular.  What will happen to the price: The price will go up.. a person or company that makes, grows, or supplies goods to sell is called the: producer. In general, if the price of a good or service goes up, what happens to the demand for that good or service: demand goes down. The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween: The price will go down.. Millions of people see a famous sports star drinking apple juice on television. The fans think apple juice helps make the athlete strong. What will happen to the price of apple juice: The price will go up.. The amount of goods or services available is called: supply. An individual or group who purchases goods: consumer. A group of buyer and sellers of a particular good or service: Market. How much people want something: demand. Something we pay to use fora certain amount of time: services. Physical items that you can touch and see are called:: Goods

This curve demonstrates what idea: As price increases, quantity supplied goes up. A point ON the curve could change if....: Price changes. If the price of a good goes up, what will happen to quantity supplied: It will increase. What will happen to quantity demanded if the price goes down? : It will increase. What could cause the shift from D1 to D2: A change in preferences. This graph represents...: Changes in demand. Which is a determinant or shifter of supply? : All of the above. There is a record peach harvest, and prices are lowest in decades, what will happen to the supply curve for peach pies? : The supply curve will shift to the right. Congress passes a new "Sugar Tax", how will this impact the supply curve for sugar? : The supply curve will shift to the left. Prices of blueberries rise dramatically, how will this impact the demand curve for strawberries: The demand curve will shift to the right . Experts say that in five years, video games will cost 200% more than they do now, how will this affect the demand curve for video games now? : The demand curve will shift to the right . Research suggests that consuming sugar can cause health problems. What happens to the demand for Gummy Bears? : The demand curve will shift to the left. The point in the middle of the two curves represents or shows....: Market Equilibrium. ________ occurs when quanity demanded is higher than quantity supplied. : Shortage. ________ occurs when quanity supplied is higher than quantity demanded. : Surplus

This supply and demand worksheet includes 20 questions to enhance your understanding of economics, pricing, and market behavior.

What happened to the Eq and Ep if: a storm destroys all Alaskan oil drills: Ep increase Eq decrease. What happened to the Eq and Ep of Meijer french fries if: the price of Ore Ida tater tots went down: Ep decrease Eq decrease. What happened to the Eq and Ep of if: american income increased 10%: Ep increase Eq increase. What happened to the Eq and Ep of if: workers go on strike: Ep increase Eq decrease. What happened to the Eq and Ep of if: new production technology is invented: Ep decrease Eq increase. What happened to the Eq and Ep of computers if: price of processors decreased: Ep decrease Eq increase. What happened to the Eq and Ep of peanut butter if: price of jelly increased: Ep decrease Eq decrease. What happened to a supply curve when supply goes down: moves left. What happened to a demand curve when demand goes down: moves left. What happened to a demand curve when demand goes up: moves rights. What happened to a supply curve when supply goes up: moves rights. What is the perfect price for a supplier to sell a product & make sure it does not stay for long periods in the store: equilibrium price. What determines price & quantity produced of goods: supply & demand. What is a government payment for certain actions: subsidy. Land prices are increasing too much, what would the government do? : Use a price ceiling. Beef prices are decreasing way too far, what would the government do? : Use a price floor. If the government set the price at $3 what would it be: a price ceiling. If the government set the price at $8 what would it be: a price floor. If the price is set at $5 what would it be: equilibrium. What factor would change and how if number of buyers decreased: Demand decrease. What factor would change and how if input costs decrease: Supply increase. What factor would change and how if substitute price increased: Demand increase. What factor would change and how if company could make more money on different product: Supply decrease. What factor would change and how if government creates new pollution regulations: Supply decrease

The law of demand states that if the price of CD’s rise, consumers will: Buy fewer CDs. The law of supply states that if the price of CD’s rise, suppliers will: Supply more CDs. Which of the following is NOT a determinant of the supply of peanut butter: The income of peanut butter consumers. Which of the following will cause an increase in demand for snowboards: A decrease in the price of lift tickets at resorts in Colorado . Americans revive their love of SUV’s and the newly remodeled, but still “gas guzzling” Hummer. What happens to the market for gasoline: Demand for gasoline will increase. Due to a disappointing economy, Americans are cutting back on the family vacation road trips. What happens to the market for gasoline: Demand for gasoline will decrease . Costs of producing gasoline has increased due to rising energy costs. What happens to the market for gasoline: Supply for gasoline will decrease . In an attempt to increase the production of oil and gasoline, Congress and the President have given the okay to drill in the Alaskan Arctic Preserve. What happens to the market for gasoline: Supply for gasoline will increase