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Supply and Demand Review Flocabulary

Authored by Ben LaScala

Social Studies

11th - 12th Grade

Used 19+ times

Supply and Demand Review Flocabulary
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10 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Supply is

something that people make or grow.

work that people do for other people.

how much of a good or service is available to buy.

how much of a good or service people want to buy.

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is demand?

things that people make or grow

work that people do for other people

how much of a good or service is available to buy

how much of a good or service people want to buy

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When would you say the supply of skateboards is high?

when there are not many skateboards available to buy

when there are a lot of skateboards available to buy

when a lot of consumers want to buy skateboards

when not many consumers want to buy skateboards

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When would you say the demand for burritos is low?

when there are not many burritos available to buy

when there are a lot of burritos available to buy

when a lot of consumers want to buy burritos

when not many consumers want to buy burritos

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

When the supply of a good is low, and the demand is high, what usually happens to the price of the good?

It goes up.

It goes down.

It doesn't change.

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Shella sells t-shirts that she paints. She just painted lots of shirts and has many available for sale. But it’s winter, and it’s cold. Not many people want t-shirts. What would be the best thing for Shella to do to get people to buy them?

She shouldn’t change the price of a t-shirt.

She should raise the price of a t-shirt.

She should lower the price of a t-shirt.

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

This year, a pest destroyed a lot of the corn crop. Corn didn’t grow very well. So, farmers don’t have much to sell. A lot of people want corn, and it’s hard to find. What will most likely happen to the price of corn?

The price of corn will go up.

The price of corn will go down.

The price of corn will stay the same.

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