Supply and Demand
Authored by Thomas Martinez
Social Studies
3rd Grade
Used 35+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supply
the amount of a good or service that is available
how much people want or need a good or service
things that a person must have in order to survive
things that a person would like to have but are not necessary to survive
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Needs
the amount of a good or service that is available
how much people want or need a good or service
things that a person must have in order to survive
things that a person would like to have but are not necessary to survive
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Wants
the amount of a good or service that is available
how much people want or need a good or service
things that a person must have in order to survive
things that a person would like to have but are not necessary to survive
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand
the amount of a good or service that is available
how much people want or need a good or service
things that a person must have in order to survive
things that a person would like to have but are not necessary to survive
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity
the total cost of materials and labor needed to make a product
cost related to providing a good or service
a person or group that makes a product
a person who buys goods and services
a shortage of a resource shortage of a resource
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Producer
the total cost of materials and labor needed to make a product
cost related to providing a good or service
a person or group that makes a product
a person who buys goods and services
a shortage of a resource shortage of a resource
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer
the total cost of materials and labor needed to make a product
cost related to providing a good or service
a person or group that makes a product
a person who buys goods and services
a shortage of a resource shortage of a resource
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