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3rd Grade Supply and Demand Assessment Flashcards | StudBud

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3rd Grade Supply and Demand Assessment

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Questions 7

Answers

1
Supply and Demand is part of Microeconomics
False
True
2
Everyone wants the new iPhone. The stores sold out of them. The DEMAND is..
LOW
HIGH
3
The following are examples of :
currency
services
goods
income
4
There are a lot of toy cars on the shelf at the store. The SUPPLY is....
LOW
HIGH
5
Demand is
another name for a service
the number of people who want or need something
a name of a coin used in the Caribbean
the amount of something that is available
6
What is supply?
how much of a good or service people want to buy
work that people do for other people
something that people make or grow
how much of a good or service is available to buy
7
If the demand for a product is low, what will the seller most likely do?
raise the price
lower the price
keep the price the same