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

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

the price of corn will increase

Toys R Us 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

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

diamonds are more scare 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

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Financial Literacy 3rd Grade

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#savings #interest #borrowing

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Questions 10

Answers

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

Financial Literacy 3rd Grade Flashcards | StudBud