Supply and Demand
Flashcard
•
Social Studies
•
11th - 12th Grade
•
Practice Problem
•
Hard
Wayground Content
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10 questions
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1.
FLASHCARD QUESTION
Front
The amount of goods or services available is called? Options: supply, demand, producer, consumer
Back
supply
2.
FLASHCARD QUESTION
Front
An individual or group who purchases goods.
Back
consumer
3.
FLASHCARD QUESTION
Front
When there is a shortage, the price will usually?
Back
rise
4.
FLASHCARD QUESTION
Front
Demand is the desire and the __________ to buy a product or service
Back
ability
5.
FLASHCARD QUESTION
Front
When the price of a good increases, the quantity demanded
Back
decreases
6.
FLASHCARD QUESTION
Front
The Law of Demand is...
Back
As prices go up, people will buy less of a good.
7.
FLASHCARD QUESTION
Front
The law of supply is..
Back
As prices go up, people will want to make more of a good.
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