Journey 2050: Economy and Land Use

What is supply?

• The amount of a product or service wanted

• The amount of a product or service available

• The amount of a product or service that you are looking for

• Who knows?

What is demand?

• the amount of a product or service that you have

• the amount of a product or service that you want

• the amount of a product or service that is available

• No idea!

What is a good?

• a product available for sale or trade

• an amount of a product that is available

• not a bad

• a product that you can give away

Tags

NGSS.MS-PS1-3

What are services?

• a product available for sale or trade

• skills available for sale or trade

• something that you give away

• No idea

An example of a good is

• a babysitter

• a car mechanic

• a television

• a waiter

An example of a service is

• a car mechanic

• a computer

• a telephone

• a video game

The economy is based on what?

• Making goods

• Transporting goods

• Selling goods

• All of the above

When two businesses, such as Apple and Dell, are trying to sell you a computer, this is called _____________________.

• economy

• goods

• competition

• services

A market economy is driven by _________________ and ____________________

(a)  

When the cost of feed is high, what happens to the cost of meat?

• it will decrease

• it will stay the same

• it will increase

• I don't know