Supply and Demand - Steffen

When a product has a high supply, that usually means that the price will be _____________

• lower

• higher

• the same

• I don't know

Old Navy has a sale on coats right now. This is probably because they have a _______________ supply of them.

• high

• low

• no

If a company makes too many of something, we say that they have a high ___________________ of it.

• price

• demand

• supply

Sometimes the price will have to increase on a good because there is _____________

• low demand

• high demand

• high supply

• low supply

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?

• The price will go up.
• The price will go down.

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?

• The price will go up.
• The price will go down.

Millions of people see a famous sports star drinking apple juice on television. The fans think apple juice helps make the athlete strong. What will happen to the price of apple juice?

• The price will go up.
• The price will go down.

Suppose you have a football trading card that everyone else has. Your friends probably won't give you much for it. The supply of that card is high, and the demand for it is low. What will happen to the price of that card.

• The price will go up.
• The price will go down.

Amazon Prime is selling Smencils.  There are only a few packs left and they are very popular.  What will happen to the price?

• The price will go up.
• The price will go down.

Tags

CCSS.HSF-LE.A.1B

A farmer is a ___________ because he/she grows food to sell.

• producer
• consumer