Supply and Demand TOGETHER
Flashcard
•
Social Studies
•
11th Grade
•
Hard
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40 questions
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1.
FLASHCARD QUESTION
Front
Supply is how much of a good or service is available to buy.
Back
True
2.
FLASHCARD QUESTION
Front
Demand is how much of a good or service people want to buy.
Back
True
3.
FLASHCARD QUESTION
Front
When the demand is high, and the supply is low the ________ of goods or services goes up.
Back
price
4.
FLASHCARD QUESTION
Front
Supply and demand work hand in hand to raise and______________the price of things.
Back
lower
5.
FLASHCARD QUESTION
Front
When the supply of a good is low, and demand is high, what usually happens to the price of the good?
Back
It increases
6.
FLASHCARD QUESTION
Front
A restaurant makes a special hamburger. Everyone loves the hamburger and wants to order it. Every night the restaurant runs out of hamburgers after only an hour. What will most likely happen to the price of the burger?
Back
The price of the hamburger will go up.
7.
FLASHCARD QUESTION
Front
What situation does the example of a restaurant running out of hamburgers after only an hour represent?
Back
Shortage
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