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by BlastRoom
Use supply and demand evidence to identify market gaps and the price pressure they create.
#us_hs_economics
25 questions
One question set, multiple game modes. Tap any game to see it in action. Not sure which to pick?
Answer to place stones and capture territory.
Outrun the snow together.
Earn blasts, then hunt the other team.
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More correct answers pulls the rope your way.
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Use the ticket schedule. At $8, what market gap exists?
At $12 per game, buyers want 200 consoles and sellers offer 450 consoles. What is the gap?
Use the orange schedule. At $4 per crate, which condition occurs?
At $15 per hoodie, customers want 140 hoodies and firms offer 380 hoodies. What is the market outcome?
Read the coffee-bean schedule. At $6 per bag, what is the gap?
At $3 per pound, shoppers want 900 pounds of chicken but stores offer 650 pounds. What is the gap?
Use the bicycle schedule. At $20, which result is shown?
Use the notebook schedule. At $5 per notebook, what condition exists?
At the price shown by the horizontal line, which quantity is larger?
At the price shown by the horizontal line, which quantity is larger?
In the graph, which side of the market is smaller at the price shown?
At the price shown by the horizontal line, what does the graph show sellers offering relative to buyers' purchases?
At the price shown by the horizontal line, which group wants the larger quantity?
At the price shown by the horizontal line, what market condition follows?
A farm sets its price for strawberries well above equilibrium, and unsold boxes pile up. What pressure does this put on price?
Concert tickets are priced below equilibrium, and far more fans line up than seats are available. What price pressure results?
A legal minimum wage is set above the market-clearing wage. More people seek jobs than firms hire. If the wage could adjust freely, what pressure would the gap create?
Gasoline is priced below equilibrium after a temporary price cap, and stations run out early. What pressure exists on the market price?
A store has hundreds of unsold winter coats after setting a price too high. Which action is most consistent with the price signal?
At a price below equilibrium for apartments, many qualified renters apply for each vacancy. In an unregulated market, what tends to happen to rent?
A bakery prices cupcakes above equilibrium and has unsold cupcakes at closing. What change would move the market toward clearing?
A city has rent-controlled apartments with long waiting lists and almost no vacancies. What condition does this signal at the controlled rent?
A car dealer marks prices high above what buyers will pay, and vehicles remain on the lot for months. What condition is present?
A surplus is also called which market condition?
At a price ceiling below equilibrium, tenants seek apartments but many cannot find one. Some offer landlords extra cash outside the legal rent. What does this behavior signal?
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How Prices Signal and Ration
20 questions
