Supply Shock: Definition & Examples


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question 1 of 3

Which of the following is the best explanation of a supply shock?

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1. Why is perception an important component of supply shock?

2. What's the opposite of a supply shock?

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About This Quiz & Worksheet

Reading over this printable worksheet will help you learn more about supply shock, a term used in economics. The interactive quiz will test you on what it means and how it can affect the price of products and goods.

Quiz & Worksheet Goals

Use these assessment tools to gauge your knowledge of:

  • The definition of supply shock
  • Why perception is an important component of it
  • What the opposite of supply shock is called
  • Price change on a product or good due to supply shock
  • Likely scenarios for a supply shock

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Knowledge application - use your knowledge to answer questions about what supply shock is and how it affects the price of goods or products
  • Reading comprehension - ensure that you draw the most important information from the related lesson supply shock
  • Critical thinking - apply relevant concepts to examine information about how important public perception is in regards to price reaction

Additional Learning

To learn more about a sharp increase or decrease in the price of a good or product, review the corresponding lesson on supply shock. This lesson covers the following objectives:

  • Defines what supply shock is
  • Provides concrete examples of supply shock
  • Discusses the importance of public perception