Quiz: Excess Demand and Excess Supply on Diagrams
Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
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Building on what you've learned about equilibrium price and quantity, this quiz will test your understanding of excess demand and excess supply on diagrams!
What does excess demand represent on a supply and demand diagram?
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Which of the following situations can lead to excess supply? (Select all that apply)
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Excess supply occurs when the market price is above the {{blank0}} price, leading to {{blank1}} goods on the market.
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Match the items on the left with their correct pairs on the right
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Match the items on the left with their correct pairs on the right
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What happens to the price in a market where excess demand exists?
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Which factors could eliminate excess supply in a market? (Select all that apply)
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Match the items on the left with their correct pairs on the right
When there is {{blank0}} supply, the price is likely to {{blank1}} as suppliers attempt to sell surplus goods.
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On a diagram, where is excess demand shown?
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