Supply and Demand

Front

If the price of a good or service goes down, what happens to the demand? Options: demand goes up, demand stays the same, demand goes down, none of the above

Back

demand goes up

Front

Amazon Prime is selling Smencils. There are only a few packs left and they are very popular. What will happen to the price?

Back

The price will go up.

Front

If the price of a good or service goes up, what happens to the demand for that good or service?

Back

demand goes down

Front

What will happen to the price of pumpkins on the day after Halloween?

Back

The price will go down.

Front

Millions of people see a famous sports star drinking apple juice on television. The fans think apple juice helps make the athlete strong. What will happen to the price of apple juice?

Back

The price will go up.

Front

The amount of goods or services available is called? Options: supply, demand, producer, consumer

Back

supply

Front

What might happen if the demand for a new type of XBOX began rising quickly?

Back

Microsoft would raise the price of the new XBOXs

Front

Which condition would lead to the highest prices? Options: Low supply, high demand; High supply, high demand; High supply, low demand; Low supply, low demand.

Back

Low supply, high demand

Front

What could cause the demand for airline travel to decrease? Options: The price for traveling by airplane decreases, The price of traveling by airplane remains the same, The price for traveling by airplane increases, None of the choices

Back

The price for traveling by airplane increases

Front

If the cost of computers falls, then…

Back

the demand for computers goes up.