Understanding Supply and Demand

What did Justin want on a hot day at the park?

• A sandwich

• An ice cream

• A cold drink

• A hot meal

Why did the ice cream vendor raise the price of double chocolate fudge?

• Because it was the cheapest

• Because she was running out

• Because it was a new flavor

• Because no one was buying it

What is 'supply' in the context of supply and demand?

• How many items are available

• How many people want the items

• How much money items cost

• How many items are sold

When is a good time to buy a coat according to the concept of supply and demand?

• During a sale

• During summer

• During winter

• When it's raining

What happens to prices when there is high demand?

• Prices go down

• Prices stay the same

• Prices go up

• Prices are removed