Economics Pre/Post-test

The newest video has come out and each store only gets a few of them in stock.

• High demand and low supply

• Low demand and high supply

• Low demand and low supply

• High demand and high supply

St. Patrick's Day is over, but the store has a lot of party supplies left over.

• High demand and low supply

• High demand and high supply

• Low demand and high supply

• Low demand and low supply

Indiana hasn't had any rain and it has effected important crops.

• Price on produce will decrease

• Price on produce will increase

• It will not have any effect on the price of produce

Stores have a surplus of wrapping paper after Christmas.

• Price on wrapping paper will increase

• Price on wrapping paper will stay the same

• Price on wrapping paper will decrease

When supplies are scarce, the prices

• do not change

• go up

• go down

We have this type of economy in the United States

• Market Economy

• Dual Economy

• Profit Economy

• Market Profit

Someone who supplies goods and services

• Manufacturer

• Truck driver

• Market Economy

• Producer

When you go to the store, you are a

• producer

• consumer

• manufacturer

• manager

Walmart and Meijer both have sales this week on different items. This is an example of

• Consumers

• Scarce products

• Profit

• Competition

You have a business and have sold $500 worth of things. You paid all of your suppliers, and workers. The money left over is a

• shortage

• surplus

• market economy

• profit