Supply and Demand

Amount of items available for sale:

• Demand

• Products

• supply

If there is too much supply of an item, the price goes up:

• True

• False

The amount of people who want to buy a good or service at a certain price is the :

• supply

• customers

• demand

What does scarce mean?

• Low supply of a good or a service

• Reducing the price of goods and services

Lowering the price of an item often increases demand because people will pay less.

• True

• False