Demand Lesson Definitions

_______ means a product someone has for sale and the amount they have

______ is the number of people wanting to buy a product for sale over a period of time

If there is a shortage of a product what could happen to the price?

• More expensive

• Less expensive

If there is an unlimited supply of a product (lots of it) what may happen to the price?

• Less expensive

• More expensive

An example of a current trend is...

• Veganism

• Price

• Demand

• Income