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Economics: Supply and Demand 5th Grade Flashcards | StudBud
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Economics: Supply and Demand 5th Grade
Economics: Supply and Demand 5th Grade
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StudBud Administration
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A quick quiz for 5th graders on supply and demand #socialstudies #supplyanddemand #5thgrade
Flashcards
15 cards
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Questions
15
Answers
1
An inverse relationship between supply and price means
When supply goes down, price goes up
When supply goes up, price goes up
When supply goes up, price goes down
When supply goes down, price goes down
2
If demand for a product increases, then price
decreases
increases
remains the same
3
Too much of a product causes its price to go up.
False
True
4
An example pf limited supply is
Tickets to a concert
Oxygen
Places to live
Cars
5
A popular product has a higher price.
True
False
6
If I have a lot of a product, does it mean that I have...
A large supply
A large demand
A large habit
A large price
7
Demand is the price of a product.
False
True
8
Printing too many copies of a book might lower the price if no one wants to buy it.
False
True
9
Is supply how much of a product or service is available to be purchased?
Yes
No
10
Professional athletes can earn millions because their skills are in high demand.
False
True
11
If something is rare...
it is popular
it is not subject to the laws of supply and demand
there are very few of them
There is a large supply of it
12
Are supply and demand connected together?
No
Yes
13
If demand for a product decreases, then price
remains the same
increases
decreases
14
Diamonds are expensive because they are scarce.
True
False
15
Weather can cause an increase in supply
True
False
