Supply & Demand

Front

_________ are people and businesses that use resources to make goods and services.

Back

Producers

Front

___________ are people who buy or use goods and services to satisfy their needs and wants.

Back

Consumers

Front

A________ is an object that people want.

Back

good

Front

A _________ is an action that someone does for someone else.

Back

service

Front

Producers increase prices when the demand is greater than the _________.

Back

supply

Front

Supply is ________ than demand when the producers decrease prices.

Back

greater

Front

A________ is when there is more of a good available than people will pay at its price.

Back

surplus

Front

________ refers to the condition where people cannot have all the goods and services they want.

Back

Scarcity

Front

Which is an example of a service? A father buying a new tv, A girl shopping at the grocery, A person buying a pizza, Someone mowing a person's lawn

Back

Someone mowing a person's lawn

Front

Which is an example of a good? A boy walking someone's dog, a hairstylist washing a girl's hair, a car, a man repairing a car

Back

a car