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Economy
Economy
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Questions
12
Answers
1
_______________ buy goods or services.
consumers
demand
producers
supply
2
_________ is the amount of a product available for sale.
demand
supply
producer
consumer
3
Farmers, firefighters, and doctors are all ________________ who provide goods or services.
consumers
producers
markets
supply
4
When we buy a ticket to go to a baseball game, we are ______________.
producers
players
consumers
demand
5
If
supply is high
and
demand is low
, a producer could do this to make consumers want to buy!
SALE: 5 for $1
raise the price of the product
lower the price of the product
choose not to sell the product again
6
Much of our community's __________________ involves buying and selling.
bank
economy
consumers
income
7
When
demand is high
and
supply is low
, this often happens...
price is raised
people do not buy the product
trading
price is lowered
8
___________ is how popular a product is, or how many people want to buy a product.
producer
consumer
demand
supply
9
_____________ sell goods or services.
demand
producers
supply
consumers
10
Any place where buyers and sellers come together is called a ___________________.
bank
market
grocery
economy
11
A flood ruins the apple crops in Illinois, what will happen to apple prices?
prices stay the same
people grow their own
prices lowered
prices raised
12
Apple comes out with the iPhone 7, what happens to the price of the iPhone 6?
price is the same
no one buys iPhone 6
price lowered
price raised