Shortage, Surplus, Supply, Demand and GDP

What is a Surplus?

• Where the demand is high but the supply is low

• When the demand is low but the supply is high

• How many items there are

• How many people wants it

What is a real life example for a shortage?

• There are 10 medicines and 3 people wants it

• There are 15 markers and 8 people wants it

• There are 10 Pokémon breads but 30 people wants it

• There are 30 pencil cases and 15 people wants it

What does demand mean?

What is an example for supply?

• 10 people wants it

• 5 goods

• 3 people wants it but there is 9 pens

• There are 9 computers but 20 people wants it

What country is the happiest of all?

• America

• Finland

• South Korea

• Switzerland

What country’s Big Mac costs the least of all?

• Switzerland

• Luxembourg

• Venezuela

• Ireland

The richest country of all is Singapore.

Write true or false.

Can the GDP per capita be larger than the GDP?

What is a GDP?

• The amount of money each person gets from the GDP

• The amount of an item

• The price of an item

• The total amount the country gets

GDP per capita means the amount each person gets from working, etc