Economics Review

The person who makes or creates an item a consumer will buy is a

• supply

• producer

• demand

• consumer

The person who buys an item that is created is the ______

• goods

• service

• consumer

• producer

What is the relationship between a consumer and a producer?

• They DO need each other

• They do NOT need each other

A new video game came out last week. Everyone rushes to the store because they want to buy it. Because of this, the price of the product will likely be

• high

• average

• low

• free

The apple orchard produced so many apples this season! As a result, they have more apples than they normally need. Because of this large quantity, the price of the apples this season will likely be...

• high

• low

When a country sends a product they have too much of to another country it is called...

• export

• import

When a country cannot grow a product and they get it from another country, it is called....

• export

• import

InterDEPENDent means...

• we grow or make all of our own goods and never trade with other places

• we rely, or depend on each other to get the things we need and want

_________ is how badly people want a good or service.

• consumer

• demand

• producer

• supply

________ is the amount of goods available.

• consumer

• demand

• producer

• supply