What will happen to the price of corn if there is not a good crop of corn and it is scarce?

the price of corn will increase

Why are diamonds more expensive than than water if water is necessary for life?

diamonds are more scarce than water

Claire borrowed $20, she was told she would have to pay her the $20 back along with interest.

it means she she owes more than what she originally borrowed

GameStop has the newest gaming system but they only have 5 of them. How would they price them?

high because they have a low supply and high demand

How would the price be affected if I have a high supply and low demand of smelly markers?

price will be low because the demand is low & supply is high

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Financial Literacy 3rd Grade

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#savings #interest #borrowing

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Questions 10

Answers

1
What will happen to the price of corn if there is not a good crop of corn and it is scarce?
the price of corn will decrease
the price of corn will increase
there is not enough information to make a good decision
the price of corn will stay the same
2
Why are diamonds more expensive than than water if water is necessary for life?
diamonds are more scarce than water
the demand for diamonds is decreasing
water is more scarce than diamonds
the demand for water is decreasing
3
Claire borrowed $20, she was told she would have to pay her the $20 back along with interest.
it means she owes nothing back at all
it means nothing to her
it means she she owes more than what she originally borrowed
it means she owes less than what she originally borrowed
4
Which does not affect your teacher's salary?
the hours she works
the number of kids she has
the number of years she has been a teacher
the amount of days she works
5
People should buy their needs before their wants
True
False
6
Whenever we are short or in low supply of a resource it is called?
supply
scarce
demand
forgotten
7
When I borrow money from a bank it is called a ?
loan
interest
gift
savings
8
GameStop has the newest gaming system but they only have 5 of them. How would they price them?
high because they have a low supply and high demand
low because they have a high supply and high demand
high because they have a high supply and high demand
Low because they have a low supply and low demand
9
How would the price be affected if I have a high supply and low demand of smelly markers?
price will be high because demand is low & supply is high
price will be low because the demand is low & supply is high
price will be high bc the demand is high & the supply is low
price will low because the demand is high & supply is high
10
Whenever I spent $300 on my credit card I had to pay back more than I spent. Why?
Loan
Savings
Income
Interest

Financial Literacy 3rd Grade Flashcards | StudBud