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Causes of Supply and Demand Changes in Microeconomics

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What is the term used to describe the way the behavior of buyers and sellers affects the level of prices for goods and services, without government interference?

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1. When there is excess demand or a shortage of goods and services, this puts _____ pressure on prices.

2. Movement along the supply and demand curve is caused by changes in the quantity demanded or quantity supplied as a result of _____ changes.

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About This Quiz & Worksheet

This quiz and worksheet contain questions about supply and demand changes in microeconomics. To pass the quiz, you'll need to demonstrate that you understand the relationship between price, supply and demand, as well as related terminology.

Quiz & Worksheet Goals

Answer these quiz questions to assess your knowledge of the following:

  • Forces that affect price levels
  • The type of pressure applied during excess demand or shortages
  • The supply and demand curve
  • Examples of price, supply and demand in action

Skills Practiced

Practice the following skills while using these study tools:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on supply and demand changes in microeconomics
  • Interpreting information - verify that you can read information regarding supply and demand changes and why they occur and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the purpose of sales

Additional Learning

If you demand more details, check out the lesson called Causes of Supply and Demand Changes in Microeconomics. This lesson covers the following topics:

  • Buyer and seller behavior
  • Equilibrium price
  • What forces cause movement along the supply and demand curve
  • Real-world examples of supply, demand and pricing
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