Supply and Demand

Price always follows the...

• Demand

• Supply

• Profit

• Cost of Operation

If everyone WANTS a good/service, what is that?

• High Demand

• Low Demand

• High Supply

• Low Supply

A new game is released, "Extreme Boxing 5". The old game "Extreme Boxing 4" goes on sale. What is the demand for "Extreme Boxing 4"?

• Low Demand

• High Demand

• Low Supply

• High Supply

During Thanksgiving, most families are trying to buy a turkey. What should happen to the price if everyone wants a turkey?

• The supply goes down

• The price goes up

• The price goes down

• The demand goes down

These are an example of what?

• Profit

• Cost of Operation

• Scarcity

• Demand

Which lemonade is cheaper to make?

• Fresh Squeezed Lemonade

• Lemonade from frozen concentrate

If it cost me 2 dollars to make a glass of lemonade, how much would I have to sell it for in order to make a Profit?

• $1

• $2

• $3

• $1.50

I am about to sell out of lemonade. What to I have?

• High Supply

• Low Supply

• Low Demand

• High Price

I am making slime for Market day. I need, glue, contact solution, food coloring, and baking soda. These are all example of what?

• Supply

• Demand

• Cost of Operation

• Profit

When I sell my product for more than my Cost of Production, what do I make?

• Profit

• Supply

• Demand