Supply & Demand

Mr Tonkli goes to the ticket booth to buy tickets for a Cavs game. Mr. Tonkli is told that the game is sold out and no tickets are available. Which best explains why there are no basketball tickets available? 

• The arena forgot to print enough tickets.
• The supply of tickets was greater than the demand.
• The arena charged too much money for each ticket.
• The demand for tickets was greater than the supply.

a person or company that makes, grows, or supplies goods to sell is called the?

• damand
• price
• producer
• shortage

The want or willingness a consumer has to purchase a good or a service is called?

• shortage
• supply
• price
• demand

The amount of goods or services available for a producer to sell is called?

• supply
• demand
• producer
• consumer

An individual who purchases (buy) goods.

• producer
• consumer
• goods
• services

A drought has made this year's tomato harvest smaller than usual. What will probably happen to the overall supply of tomato sauce?

• The supply will probably go up

• The supply will probably go down

Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?

• The demand will probably go up

• The demand will probably go down

What will happen to the price of new cars if a weak economy causes people to have lower incomes?

• The price will increase

• The price will decrease

What will happen to the price of baby cribs if there is a large increase in the number of babies born?

• The price will increase

• The price will decarese

What will happen to the price of soccer balls if more and more boys and girls are learning to play soccer?

• The price will increase

• The price will decrease