SUPPLY & DEMAND #2

Cold weather in Florida has damaged this year’s orange crop. Farmers have only half of the usual amount of oranges to sell. What will happen to the supply of oranges?

• The supply will go up.

• The supply will go down.

Cold weather in Florida has damaged this year’s orange crop. Farmers have only half of the usual amount of oranges to sell. What will happen to the price of oranges?

• The price will go up.
• The price will go down.

The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the demand for pumpkins on the day after Halloween?

• The demand will go up.

• The demand will go down.

The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?

• The price will go up.
• The price will go down.

Few farmers have ripe cherries to sell. The supply of cherries is low. But many customers at the market want to buy cherries.The demand for cherries is high.  What will happen to the price of the cherries?

• The price will go up.
• The price will go down.

What happens to the price of something when the demand for it goes down?

• The price will go down

• The price will go up

• The price will stay the same

• They will be free

If the demand for an item is HIGH and supply is LOW, what will happen to the price?

• The price will go down

• The price will go up

• The price will stay the same.

My new Nikes were introduced in May for $129.99, but by December they are being sold for $69.99. According to the law of supply and demand, which is most likely to be true about the Nikes.

• Supply for the Nikes was high but the demand was low.

• Supply for the Nikes was low but demand was high.

What will probably happen to the demand of thick, stocking hats as summer approaches?

• The demand will go up

• The demand will go down

• The demand will stay the same

What will probably happen to the price of thick, stocking hats as summer approaches?

• The price will go up

• The price will go down

• The price will stay the same