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Supply, Demand and Equilibrium

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Test your knowledge of supply, demand, and equilibrium in this educational game!

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United Arab Emirates

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Supply, Demand and EquilibriumVersion en ligne

Test your knowledge of supply, demand, and equilibrium in this educational game!

par sarah ayyad
1

A shortage occurs when the quantity supplied exceeds the quantity demanded.

2

The law of demand states that as the price of a good increases, the quantity demanded also increases.

3

The law of demand states that as the price of a good increases, the quantity demanded decreases.

4

Supply and demand determine the price of goods.

5

An increase in demand leads to higher prices.

6

The law of supply states that as the price of a good increases, the quantity supplied also increases.

7

An increase in demand leads to lower prices.

8

A decrease in supply leads to higher prices.

9

The demand curve slopes upward.

10

The equilibrium price is also known as the market-clearing price.

11

The equilibrium price is always the highest price in the market.

12

The demand curve slopes downward.

13

The law of supply states that as the price of a good increases, the quantity supplied decreases.

14

Equilibrium only occurs in perfectly competitive markets.

15

Equilibrium occurs when the quantity supplied equals the quantity demanded.

16

A shortage occurs when the quantity demanded exceeds the quantity supplied.

17

Supply and demand have no impact on prices.

18

A decrease in supply leads to lower prices.

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