Economics Grade 3 Review

It's winter. Would these be HIGH or LOW in demand?

Which word means: The amount of something available to customers

Which word means: The study of how goods and services are produced and distributed

Which word means: How much consumers’ want something

Is there a LOW or HIGH supply of bread in the store?

Which word means: A person who makes and sells goods and services

It's winter. Would these be HIGH or LOW in demand?

Which word means: Things or items that are made or grown and then sold

Good or Service?

Producer or Consumer? I go to the mall to buy a new pair of sneakers.

Was there a LOW or HIGH demand of bread in the store?

Which word means: A person who buys goods or services

Is there a LOW or HIGH supply of stuffed animals in the store?

Which word means: Things a person must have to survive

Do you think the stuffed animals will cost more money or less money if the supply is high?

Which word means: When someone helps or does work for someone else

Good or Service?

Producer or Consumer? I make cookies to sell at my snack stand.

Producer or Consumer? I opened a nail salon, and people pay me to paint their nails.

Which word means: Things a person wishes they had,but they do not need it to survive