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