Supply and Demand Economics Assessment

Front

If the supply of smartphones increases while demand stays the same, what typically happens to the price?

Back

The price decreases

Front

During a drought, what typically happens to the price of vegetables?

Back

Prices increase because supply is limited

Front

What would likely happen to movie ticket prices if a new superhero film becomes extremely popular?

Back

Prices would increase due to high demand

Front

During winter, what typically happens to the price of ice cream?

Back

Prices decrease due to lower demand

Front

If a new gaming console is released and everyone wants to buy it, what happens to its price?

Back

The price increases due to high demand

Front

What happens to hotel prices during peak tourist season?

Back

They increase due to higher demand

Front

If farmers have an excellent growing season with a large crop yield, what typically happens to produce prices?

Back

Prices decrease due to increased supply

Front

During a gas shortage, what happens to gas prices?

Back

Prices increase due to limited supply

Front

What typically happens to umbrella prices on a rainy day?

Back

They increase due to sudden demand

Front

If many new pizza restaurants open in a small town, what typically happens to pizza prices?

Back

Prices decrease due to competition