Supply and Demand

Front

Supply is how much of a good or service is available to buy.

Back

True

Front

Demand is how much of a good or service people want to buy.

Back

True

Front

When the demand is high, and the supply is low the ________ of goods or services goes up.

Back

price

Front

You are a __________;you buy things like video games and sneakers.

Back

consumer

Front

Things that people make or grow are called_____________.

Back

goods

Front

Supply and demand work hand in hand to raise and______________the price of things.

Back

lower

Front

When people work for others; it is called a_______________, like a doctor or bus driver.

Back

service

Front

Lucas fixes his friend's sink. He is providing a_____________.

Back

service

Front

When the supply of a good is low, and demand is high, what usually happens to the price of the good?

Back

It goes up

Front

What will most likely happen to the price of the hamburger if a restaurant runs out of hamburgers after only an hour?

Back

The price of the hamburger will go up.