supply and demand 2

supply and demand 2

By Lindsey Bourgeois

Multiple Choice

Tom has a large supply of apples on his farm. If he sells apples for 1 dollar a price, should he raise the cost of his apples or lower the price to sell more?

• Raise

• Lower

Multiple Choice

Walmart has a shortage of oranges. The manager doesn't know what to do. Should they raise the price or lower the price?

• Raise

• Lower

Multiple Choice

Jeff wants to buy new shoes. There is only ONE pair of shoes left in the style he wants. He notices the price is different from last week. The store probably:

• Raised the price.

• Lowered the price.

Multiple Choice

What happens to the price when you don’t have enough of something people want to buy?

• It goes up.

• It goes down.

Multiple Choice

What happens to the price when you have more of something than people want to buy?

• It goes up.

• It goes down.

Multiple Choice

After a hurricane, residents of Tulum can’t drink the water. The demand for bottled water increases. What happens to the price of bottled water?

• The price stays the same

• The price increases

• The price decreases

• The price is not affected

Multiple Choice

In 1940, scientists invented a new form of synthetic, or artificial, rubber. It made the price of rubber tires go down. What happened to the overall demand of rubber tires after 1940?

• The overall demand for rubber tires went up.

• The overall demand for rubber tires went down.

• The  overall demand for rubber tires probably remains the same.

• None of the above.

Multiple Choice

Beyonce is coming back to New Orleans, and the tickets are in high demand, but the supply is limited. What happens to the price?

• The price stays the same

• The price increases

• The price decreases

• The price is not affected