Resources/ Supply and Demand

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.

The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?

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

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

How much people want something

• supply

• demand

• producer

• consumer

A year ago, there were 12 companies that made motorized scooters. But over the past month, 5 of those companies went out of business. What probably happened to the overall supply of motorized scooters?

• The supply probably went up.

• The supply probably went 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

_____ are from nature and are used in their natural form

• natural resource

• human resource

• capital resource

A rock is a

• natural resource

• human resource

• capital resource

_____are people who use their skills to produce a good or service

• natural resource

• human resource

• capital resource

_____ are goods produced and used to make other goods or services

• natural resource

• human resource

• capital resource