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WorksheetsSupply and Demand
Total questions: 12
Worksheet time: 7mins
Name
Class
Date
1.
In general, if the price of a good or service goes down, what happens to the demand for that good or service?
a)
demand goes up
b)
demand stays the same
c)
demand goes down
d)
none of the above
2.
Amazon Prime is selling Smencils. There are only a few packs left and they are very popular. What will happen to the price?
a)
The price will go up.
b)
The price will go down.
3.
a person or company that makes, grows, or supplies goods to sell is called the?
a)
damand
b)
price
c)
producer
d)
shortage
4.
In general, if the price of a good or service goes up, what happens to the demand for that good or service?
a)
demand goes up
b)
demand stays the same
c)
demand goes down
d)
none of the above
5.
The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?
a)
The price will go up.
b)
The price will go down.
6.
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?
a)
The price will go up.
b)
The price will go down.
7.
The amount of goods or services available is called?
a)
supply
b)
demand
c)
producer
d)
consumer
8.
An individual or group who purchases goods.
a)
producer
b)
consumer
c)
goods
d)
services
9.
A group of buyer and sellers of a particular good or service
a)
Supply
b)
Demand
c)
Agency
d)
Market
10.
How much people want something
a)
supply
b)
demand
11.
Something we pay to use fora certain amount of time
a)
services
b)
goods
12.
Physical items that you can touch and see are called:
a)
Goods
b)
Needs
c)
Services
d)
Wants
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