Demand And Supply

Demand means?

• Demand means the products in the store

• Demand means the people

• Demand means the materials you see in a store

• Demand means when you sell a lot of items in a low prize

Supply means (a)   .

In this scenario guess what is the demand and what is the supply in order. Also State if it is Equal, high Demand low Supply , low Demand high Supply.

Scenario: There are 57 Jerseys in a shop but the 140 want to buy it.

(a)  

What does the law of Demand state?

• It states that the quantity purchased varies inversely with price.

• It states that direct relationship with price and quantity supplied.

• It states that the higher the price the lower the quantity demanded.

• None of the answers

What does the law of Supply state?

• It states that there must be supply in a store.

• There is a straight relationship between price and Supplied quantity.

• They both are correct.

• Both are wrong.

Is this True or False

Price high O Supply high

• True

• False

• Maybe

State True or False

Price high O Demand high

• True

• False

• Maybe

State True or False

Price low X Demand medium

• False

• True

State True or False

Price low X Demand high

• False

• True

Write the meaning of Price high X Demand low.

• Means when price is high demand is low.

• Means when price is low demand is low and also Demand is high.