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Supply and demand quiz

This 10th-grade supply and demand quiz helps students practice understanding key economic concepts through multiple-choice and short-answer questions, focusing on shifts in market equilibrium, causes of supply changes, surplus, and price controls.

By Edform · Economics and personal finance · Grade 10 · Published Oct 15, 2026 · New

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Questions

  1. What happens to the equilibrium price when demand increases and supply remains unchanged?
  2. Which of the following would likely cause a decrease in supply?
  3. A surplus occurs when the quantity supplied is greater than the quantity demanded at a given price.
  4. If the government sets a price ceiling below the equilibrium price, what is the most likely result?
  5. What is the term for the point where the supply and demand curves intersect?
  6. If the quantity supplied is 150 units and the quantity demanded is 100 units at a certain price, what is the surplus?
  7. Which changes would most likely cause the equilibrium price to fall?
  8. If the price of a good is above equilibrium, there will be downward pressure on the price.
  9. Which of the following best describes the law of demand?
  10. What is the term for a situation where quantity demanded exceeds quantity supplied?

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