Supply and Demand

Open Ended

DO NOW: If you had $10,000 to start up your own company, what good will you sell or what service will you provide?

Multiple Choice

In a free enterprise system, government places _______ restrictions on businesses:

• Abnormal

• Minimal

• Maximum

• No

Multiple Choice

In the U.S, most businesses are free to:

• Decide what goods/services to sell

• Decide how to operate their business

• Decide how to price their products/services.

• All of the above

Multiple Choice

The government of these two Asian nations are examples of governments who restrict the economic freedoms of their citizens

• Japan & Alaska

• France & Egypt

• India & China

• China & North Korea

Open Ended

What happened when people started rushing to buy toilet paper when pandemic started. Explain this using supply and demand terms.

Multiple Choice

What does an entrepreneur do?

• Loan money to people

• Fills out tax forms for people

• Start up and run their own business

• Train people to do their jobs.

Multiple Choice

Which one below has the most influence on how companies price their goods/services?

• Government request

• Competition between companies

• City restrictions

• Advertising