Supply and Demand

Supply is .....

• something that people make or grow.

• work that people do for other people.

• how much of a good or service is available to buy.

• how much of a good or service people want to buy.

What is demand?

• how much of a good or service people want to buy.

• things that people make or grow.

When would you say the supply of skateboards is high?

• When there are not many skateboards available to buy.

• When there are a lot of skateboards available to buy.

When would you say the demand for burritos is low?

• When a lot of consumers want to buy burritos.

• When not many consumers want to buy burritos.

When the supply of a good is low, and the demand is high, what usually happens to the price of the good?

• It goes up.

• It goes down.

If farmers don't have a lot of corn to sell, and there are a lot of people that want to buy corn. What will most likely happen to the price of corn.

• The price of the corn will go up.

• The price of the corn will go down.

______________ help people decide what to make, grow, and sell.

• Unbrellas

• Prices

• Sneakers

• Buckets

What word means "how much of an item is available for sale?

• Supply

• Dollars

• Demand

• Price

What word means "how much of an item people want to buy?"

• Supply

• Price

• Demand

• Dollars

If you had a lemonade stand, which would be a fixed cost?

• Table

• Sugar

• Lemons

• Napkins