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WorksheetsSupply and Demand
Total questions: 9
Worksheet time: 5mins
Name
Class
Date
1.
If the demand of a product drops, you would expect the price of the product to...
a)
rise
b)
stay the same
c)
go up
d)
decrease
2.
a)
Producer
b)
Consumer
3.
a)
Producer
b)
Consumer
4.
Things that we can touch and hold are called __________.
a)
goods
b)
services
c)
producers
d)
consumers
5.
How do you meet your wants in a world of limited resources?
a)
by making more money
b)
by making choices
c)
by stealing
d)
by setting a budget
6.
Consumers earn __________ when they have a job.
a)
income
b)
interest
c)
allowance
d)
barter
7.
A __________ is someone grows or creates goods or services for others.
a)
producers
b)
consumers
c)
bankers
d)
traders
8.
If the demand of a product drops, you would expect the price of the product to...
a)
rise
b)
stay the same
c)
go up
d)
decrease
9.
Summer is upon us, and people begin purchasing bathing suits in large numbers. What causes this change?
a)
Change in income
b)
Prices or availability of substitutes
c)
Change in the weather or season
d)
Change in the number of buyers
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