Lesson 9 Review

The total amount of a good or service that is available to buy is called _____________________.

• supply

• demand

• price

• cost

Use words from the Word Bank to complete each sentence. A(n) _____________________ is something that leads a person to make a certain choice.

• incentive

• obstacle

• distraction

• deterrent

The total amount of a good or service that customers will buy at all prices is called _____________________.

• demand

• supply

• equilibrium

• surplus

The amount of money earned by a business after costs are removed is called _____________________.

• profit

• revenue

• loss

• investment

Which of the following people is earning money by providing a service?

• A. Anthony grows fruit to sell.

• B. Laura sews stuffed animals.

• C. Carl sells lemonade he makes.

• D. Marie teaches a third grade class.

Which of the following will increase the profit at a lemonade stand?

• using cheaper lemons

• using more ingredients

• selling during cold weather

• giving glasses away for free

At Georgia's fruit stand, she sells apples. The _________ of apples is how many she has to sell.

• buyer

• demand

• seller

• supply

Circle the letter next to the best answer. 8. Oprah and Bill Gates are entrepreneurs because they

• A. watched television all day long.

• B. spent all their time on the Internet.

• C. grew fruits and vegetables to sell.

• D. took risks to start their own businesses.

Which of the following is the main goal of a charity?

• work on television shows

• give money to people in need

• make billions of dollars in profit

• create computer programs to sell

A new toy becomes very popular, and many people want it. How will the price of the toy change?

• Price will go up.

• Price will go down.