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Supply and Demand Flashcards | StudBud
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Supply and Demand
Supply and Demand
10 terms
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StudBud Administration
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10,781 plays
Economy
Flashcards
10 cards
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10
Answers
1
Supply is
Something that people make or grow
how much of a good or service people want to buy
how much of a good or service is available to buy
work that people do for other people
2
Every night the restaurant sells out of it's special burger. What might happen to the price?
The price of the hamburger will go up.
The price of the hamburger won’t change.
The price of the hamburger will go down.
3
What is demand
Things that people make or grwo
work that people do for other people
how much of a good or service is available to buy
how much of a good or service people want to buy
4
A lot of people want corn, and it’s hard to find. What might happen to the price of corn?
The price of corn will stay the same.
The price of corn will go up.
The price of corn will go down.
5
When would you say the demand for burritos is low?
when not many consumers want to buy burritos
when there are not many burritos available to buy
when there are a lot of burritos available to buy
when a lot of consumers want to buy burritos
6
When would you say the supply of skateboards is high?
when there are not many skateboards available to buy
when there are a lot of skateboards available to buy
when not many consumers want to buy skateboards
when a lot of consumers want to buy skateboards
7
A new version of a video game just came out. What might happen to the price of the old version
The price of the old version will go up.
The price of the old version will stay the same.
The price of the old version will go down
8
If the supply of a good is low, and the demand is high, what happens to the price of the good?
It goes down
It doesn't change
It goes up
9
People wanted to buy fireworks before July 4th but not after. What happened to the price?
The price was higher before July 4 than it was after July 4
The price was lower before July 4 than it was after July 4.
The price was the same before and after the Fourth of July
10
Mia paints and sells t-shirts but it's winter. What could she do so people to buy them?
She should lower the price of a t-shirt.
She shouldn’t change the price of a tshirt
She should raise the price of a t-shirt.
