Supply and Demand

When the supply goes higher, the demand will be______

• Lower

• Same

• Higher

• No more

When the supply goes lower, the demand will be ____

• Higher

• Lower

• No more

The farmer is a _____ because they grow crops and sell.

• Consumer

• Producer

• Animal

A consumer is who ______

• Buys

• Sells

• Cry

• Draw

A producer is someone who ______

• Buys

• Sells

• Eat

• Dance

What determines the prices of goods and services?

• Supply

• Demand

• Supply and demand

• Goods

Defined as: the performance of a duty or work for another person

• good

• service

• export

• import

Supply is defined as:

• the quantity of a good or service that a business is willing and able to make available for sale at a specific price

• the quantity of a good or service that a buyer is willing and able to purchase at a specific price

Demand is defined as:

• the quantity of a good or service that a business is willing and able to make available for sale at a specific price

• the quantity of a good or service that a buyer is willing and able to purchase at a specific price

When the amount demanded is greater than the available supply, the price will

• go up

• go down

• stay the same