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Supply and Demand Review Flashcards | StudBud

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Supply and Demand Review

7 terms·StudBud Administration·18 plays

A student created review quiz for supply and demand topics.

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Questions 7

Answers

1
What is supply and demand?
Big Bird and Snuffy
Extra money paid on a loan
The amount of a product available and the desire for it
The management of resources
2
How did Silly Bandz get popular?
Pizza Hut
Social Media
Old Man Jenkins
Newspapers
3
Selling ice cream in the Winter produces the best prices because of your high supply.
False, the price is high.
True, ice cream is popular in the winter.
False, the demand is low.
True, ice cream is in high supply.
4
Why would you lower the prices if there is low demand?
To increase your supply
To increase demand
To get more profit
To earn more Stan Bucks
5
The prices of a product increase when there is a(n)...
Abundance of one item and no demand.
Lot of money.
Low supply and low demand.
Low supply & high demand.
6
What is an economic system?
The trade of good and services, managed by the government
How scarcity is managed
The original Nintendo
How banks are managed
7
People store their money in a bank and receive ________ in return for allowing them to use it.
Jobs.
Loans.
Interest.
Mortgages.