Demand and Supply as Curves · seed 1 · A4, ink-friendly. The answer key prints on its own page for grown-ups.

Two curves, one market

Civics & Economics · Economics · ages 14-15
Name ______________________   Date ____________

  1. In the standard model, supply slopes upward with quantity horizontal and price vertical, holding other influences fixed.

    Circle one:   True   False

  2. With quantity horizontal and price vertical, how does an ordinary demand curve slope, holding other influences fixed?

    • Up
    • Down
    • Flat

  3. A demand schedule lists 10 apples at 1 coin each, 6 at 2 coins and 3 at 3 coins. At 1 coin each, what quantity is demanded?

    • 10
    • 6
    • 3

  4. Holding production costs and other influences fixed, why does quantity supplied usually rise with price?

    • Extra output pays
    • Buyers buy more goods
    • Shops close early

  5. Holding other influences fixed, why does quantity demanded usually fall as price rises?

    • Sellers make more goods
    • Buyers leave or switch
    • Coins grow heavier

  6. At 3 coins, buyers want 3 loaves and sellers offer 10. Which quantity is larger?

    • Demand, 3 beats 10
    • They match exactly
    • Supply, 10 beats 3

  7. A graph places price vertically and quantity horizontally. Starting at a price on its axis, how do you read the quantity on a curve?

    • Up to the title, then left
    • Across, then down
    • Along the curve to its end

  8. What does one point on a demand curve mean?

    • A price and quantity wanted
    • Sellers offer double there
    • The price must fall next
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Answer key

For grown-ups. Fold this page away before handing over the rest.

Two curves, one market W1-mt_FyYrlvzXct-s1

  1. True · Higher prices pair with larger quantities offered.
  2. Down · Higher prices pair with smaller quantities wanted.
  3. 10 · The buyer list pairs the lowest price with 10 apples.
  4. Extra output pays · A higher price can make additional production worthwhile.
  5. Buyers leave or switch · Dear prices push some buyers out or toward substitutes.
  6. Supply, 10 beats 3 · Read both lists at one price: 10 offered tops 3 wanted.
  7. Across, then down · Price across, curve, then down is the move the model builds on.
  8. A price and quantity wanted · Each demand point pairs a price with the quantity buyers are willing and able to buy at that price.
Worksheet · LightMySky