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9th grade · Social Studies · Unit 8 of 8

Supply & Demand

Shifts, prices, shortages and surpluses

What your child practices

How events shift supply or demand and change prices, finding the equilibrium price in a table, and what happens when a price is set too high or too low.

Oregon State Standards learning standard: HS.E.MI.1; HS.E.MI.2; HS.E.MI.3 · supply and demand, economic models of a market, and shortages and surpluses

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Use the table. What is the equilibrium price?

    Market for a good
    PriceQuantity demandedQuantity supplied
    $320080
    $417090
    $5140100
    $6110110
    $780120
    $850130
    • $3
    • $8
    • $6
    • $4

  2. Question 2

    Use the table. What is the equilibrium price?

    Market for a good
    PriceQuantity demandedQuantity supplied
    $111030
    $29050
    $37070
    $45090
    $530110
    $610130
    • $5
    • $4
    • $3
    • $2

  3. Question 3

    Use the table. If the price is set at $1, what happens?

    Market for a good
    PriceQuantity demandedQuantity supplied
    $113050
    $211070
    $39090
    $470110
    $550130
    $630150
    • a shortage of 80
    • no shortage or surplus
    • a shortage of 130
    • a surplus of 80

  4. Question 4

    New machines make bike frames faster. What happens in the market for bicycles?

    • supply increases
    • demand increases
    • supply decreases
    • demand decreases

  5. Question 5

    Farmers plant more hazelnut orchards that start producing. What will most likely happen to the equilibrium price of hazelnuts?

    • it falls
    • it stays exactly the same
    • it rises

  6. Question 6

    Home building booms. What happens in the market for lumber?

    • demand increases
    • supply increases
    • supply decreases
    • demand decreases

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