Economics Review Quiz

Monica is selling cars. She is providing a

• good

• service

Kellan’s job is to give haircuts. He is providing a

• good

• service

Miss Davis has a hole in her only pair of shoes. She is going to the store to buy new ones. This is a

• need

• want

Jose is going to the store to buy a new pair of Jordans that are red and white. This is a

• need

• want

Maite owns a bakery. When she sells cupcakes she is a ...

• consumer

• producer

Daniela goes to Maite's bakery and buys a cupcake. Daniela is a

• consumer

• producer

There is a line out of the door to buy cupcakes. There is a high _______ for the cupcakes

• supply

• demand

Can one person be a consumer AND a producer?

• yes

• no

Maite only has a few cupcakes left. There is a low _____ for the cupcakes.

• supply

• demand

If a product has a high demand, it will cost

• more

• less