Financial Literacy 2

In the winter watermelons are scarce (hard to find) which means that the price will increase or ​ (a)  

• go up and be higher.
• go down and be lower.

When there is an abundance (a lot of something) the price will decrease or ​ (a)  

• go down and be lower.
• go up and be higher.

Scarcity means that there is ​ (a)   of something.

• less
• more

Surplus and abundance means that there is ​ (a)   of something.

• more
• less

There was a hurricane that destroyed most of the orange trees in Florida. Fill in the blanks below to complete the sentence.

There is ​ (a)   ​ oranges which is called a ​ (b)   .

• less
• scarcity
• more
• surplus

There was a hurricane that destroyed most of the orange trees in Florida. Fill in the blanks below to complete the sentence.

There is ​Less oranges which is called a scarcity.

This means that the price will likely ​ (a)   or go ​ (b)   ​

• increase
• up.
• decrease
• down.

In a year of good rainfall farmers are able to grow a lot of corn. There is more corn which would be called a ​ (a)  

• scarcity.
• surplus.

In a year of good rainfall farmers are able to grow a lot of corn. This means that the price will likely ​ ​ (a)   or go ​ (b)   .

• decrease
• down
• up
• increase

Around Easter time there is a lot of candy in the stores, we call this a ​ (a)  

• surplus.
• scarcity.
• decrease.

What will probably happen if something people want to buy is scarce?

• The price will go up.
• The price will go down.
• You will be able to get it for free.