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15 questions
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- 1. Multiple Choice
Supply is how much of a good or service is available to buy.
True
False
- 2. Multiple Choice
Demand is how much of a good or service people want to buy.
True
False
- 3. Multiple Choice
When the demand is high, and the supplyis low the ________of goods or services goes up.
price
goods
service
consumer
- 4. Multiple Choice
You are a __________;you buy things like video games and sneakers.
price
consumer
goods
services
- 5. Multiple Choice
Things that people make or grow are called_____________.
goods
services
consumers
price
- 6. Multiple Choice
Supply and demand work hand in hand to raise and______________the price of things.
raise
lower
consumer
price
- 7. Multiple Choice
When people work for others; it is called a_______________, like a doctor or bus driver.
goods
consumer
price
service
- 8. Multiple Choice
Lucas fixes his friend's sink. He is providing a_____________.
trade
opportunity cost
product
service
- 9. Multiple Choice
When the supply of a good is low, and demand is high, wahat usually happens to the price of the good?
It goes up
It goes down
It doesn't change
- 10. Multiple Choice
A restaurant makes special hamburger. Everyone loves the hamburger and wants to orer it. Every night the restaurant runs out of hamburgers after only and hour. What will most likely happen to the price of the burger?
The price of the hamburger will go up.
The price of the hamburger will go down.
The price of the hamburger will not change.
- 11. Multiple Choice
Shella sells t-shirts that she paints. She just painted lots of shirts and has many available for sale. But it's winter and cold. Not many people want t-shirts. What would be the best thing for Shella todo to get people to buy them?
She shouldn't change the price of the t-shirt.
She should raise the price of the t-shirt.
She should lower the price of the t-shirt.
- 12. Multiple Choice
Which group of people are mosted interested in demand?
store owners
consumers
children
mothers
- 13. Multiple Choice
Supply and demand work together in a market____________.
planet
society
economy
- 14. Multiple Choice
For the economy to be successful businesses need to sell and shopers must be willing to spend their____________.
savings
money
business
goods
- 15. Open Ended
Write two things you learned today about supply and demand.
- Answer choicesTagsAnswer choicesTags