This exercise will help you consolidate your understanding of demand, supply, and equilibrium. After completing the activity, you will be able to identify the determinants of demand and supply, and describe how changes in demand and supply lead to changes in a market's equilibrium price and quantity. This quiz was first presented in Saylor Academy's ECON101: Principles of Microeconomics course. If you are coming to this after having taken ECON101, you may not need to take this quiz. Otherwise, feel free to use it to refresh your memory of this important subject!Notes:
- There is no minimum required score to pass this assessment, and your score on this assessment will not factor into your overall course grade.
- This assessment is designed to prepare you for the Final Exam that will determine your course grade. Upon submission of your assessment you will be provided with the correct answers and/or other feedback meant to help in your understanding of the topics being assessed.
- You may attempt this assessment as many times as needed, whenever you would like.