supply and demand
Demand varies with price and other factors. This topic is part of Economics within Government & Society. This page currently draws on 6 supporting questions, with answers and bonus facts available below.
supply and demand trivia questions
In economics, demand describes how much consumers are willing and able to what?
Answer: Buy
Bonus fact: Demand varies with price and other factors.
If demand rises while supply stays the same, price tends to do what?
Answer: Rise
Bonus fact: More buyers compete for the same quantity.
Where supply and demand curves intersect is called what?
Answer: Market equilibrium
Bonus fact: At equilibrium, quantity supplied equals quantity demanded.
A market is a place or system where buyers and sellers exchange what?
Answer: Goods or services
Bonus fact: Markets bring together supply and demand.
What did long-distance merchants often seek by moving goods between regions?
Answer: Profit from price differences
Bonus fact: Trade connects places with different supplies and demands.
In a free market, prices are determined mainly by what?
Answer: Supply and demand
Bonus fact: Buyers and sellers interact with limited price controls.