What does supply and demand describe?
AnswerHow availability and desire for goods affect prices
Prices tend to shift as supply and demand change.
Business · Facts & stats
Market facts & stats
7 fact-checked facts about markets, trade and everyday economics, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is a bazaar?
AnswerA marketplace, especially in the Middle East and South Asia
Bazaars are traditional marketplaces with many stalls.
Going deeper
What is a monopoly?
AnswerA market dominated by a single seller
A monopoly has one seller with no close competitors.
What does a bull market generally describe?
AnswerA period of rising prices
Bull markets are periods when prices broadly rise.
What is inflation?
AnswerA general rise in prices over time
Inflation means money buys less than before.
Expert level
Adam Smith used which phrase for the self-regulating nature of markets?
AnswerThe invisible hand
Smith's 'invisible hand' appears in The Wealth of Nations.
A market with only a few large sellers is called what?
AnswerAn oligopoly
Oligopoly means a few firms dominate supply.
Know these cold?Today's round is five questions like these, 20 seconds each. Your streak and level follow you to every arena.Play today's round