Scarcity

Is it scarcity or not scarcity?

There are 400 dolls on the shelf, 20 dolls are sold.

• scarcity

• not scarcity

Is it scarcity or not scarcity?

There are 100 Playstation 5s on the shelf. 200 people want to buy them.

• scarcity

• not scarcity

What is supply and demand?

• the amount of goods wanted by consumers versus the amount of goods available to buy

• the person who buys the good or service

• the person who offers the good or service

Lily has 10 customers coming to buy lemonade. Does she have enough lemonade or is her lemonade scarce?

• she has enough for 10 people

• her lemonade is scarce.

Imagine you have a toy company. You made 100 toys. After 3 weeks, you've only sold 10 toys. How can you make more people buy your toys?

• lower the price of the toy

• move them to a different spot in the store.

• make a different toy.