Supply & Demand

When the supply for a good is high, its price ____

• Goes up

• Does not change

• Goes down

• Does not matter

As the price of an goes down, it's Demand tends to ___

• Go down

• Does not matter

• Goes up

• Does not change

Diamonds are costly because _____

• Shiny = Costly

• They are found everywhere

• The Rarity factor

The Economy is the place where people _____ money

• Burn

• Earn and Spend

• Earn

• Spend

The price of something is the result of on-going negotiation between producers and consumers based on

What will happen to the price of shoes if shoe producers have to pay higher wages to their workers?

• The price will decrease

• The price will Increase

What will happen to the price of T-Shirts if T-Shirt businesses now use machines that produce twice as many shirts in one hour?

• The price will decrease

• The price will increase

Continued from Q7, Why so?

• Increase in supply

• Increase in demand

• Decrease in supply

• Decrease in demand

What will happen to the supply & price of tomatoes if more farmers decide to start growing tomatoes?

• Supply will increase

• Price will go down

• Prices remain the same

• Supply decreases

The amount of money exchanged for a good or service is called the ...

• Demand

• Price

• Economy

• Supply