Understanding Supply and Demand

Front

What did Justin decide to buy on a hot day at the park?

Back

Ice cream

Front

Why did the price of the ice cream flavor Justin wanted increase? Options: It was a very hot day, It was the last scoop, The vendor was closing soon, Many people wanted it

Back

Many people wanted it

Front

What did Justin use to explain supply and demand? Options: A video game with new characters, A science experiment using baking soda and vinegar, A personal story about ice cream, A history book

Back

A personal story about ice cream

Front

Supply in economics

Back

How many items are available

Front

What happens to prices when demand is high but supply is low?

Back

Prices increase

Front

What might cause the price of school supplies to increase? Options: During winter, After school ends, Right before school starts, During school vacations

Back

Right before school starts

Front

When is a good time to buy a coat according to supply and demand principles?

Back

In summer

Front

What is likely to happen to the price of strawberry ice cream if it's in excess supply?

Back

Price goes down

Front

Why might it be smart to buy a bathing suit in the fall?

Back

Fewer people are buying them

Front

What should you keep an eye out for to see examples of supply and demand?

Back

shopping