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Supply and Demand

Supply and Demand

Assessment

Presentation

Social Studies

2nd Grade

Medium

Created by

Cherisia McPherson

Used 552+ times

FREE Resource

5 Slides • 7 Questions

1

Supply and Demand

What are supply and demand?

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2

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3

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4

Multiple Choice

Things that you can buy or sell are called:

1

Goods

2

Needs

3

Services

4

Wants

5

Multiple Choice

Lucas fixes his friend's sink.  He is providing a _____________.
1
trade
2
opportunity cost
3
product
4
service

6

Multiple Choice

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The desire or willingness a consumer has to purchase a good or a service is called?
1
shortage
2
supply
3
price
4
demand

7

Multiple Choice

The amount of a good or service that is available to consumers
1
Supply
2
Demand
3
Saver
4
Spender

8

Supply

If the supply of goods and is more than the demand, the prices will go down or decrease


If the supply is lower than the demand, the prices will increase or rise

9

Demand

When the demand is greater or more than the supply the prices will increase.

When the demand is less than supply, the prices for goods and services will decrease or go down.

10

Multiple Choice

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Cold weather in Florida has damaged this year’s orange crop. Farmers have only half of the usual amount of oranges to sell. What will happen to the price of oranges?
1
The price will go up.
2
The price will go down.

11

Multiple Choice

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When the demand for a product or service is higher than the supply this causes what?

1

shortage

2

consumer

3

surplus

4

equilibrium

12

Multiple Choice

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Farmers in California have had wonderful weather. They have produced the largest crop of watermelons in years. What will happen to the price of watermelons?

1

The price will go up.

2

The price will go down.

Supply and Demand

What are supply and demand?

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