Supply and Demand

What are the earnings a business has left after all its expenses have been paid?

• Capital

• Profit

• Taxes

• Wages

According to this table, what will happen if the price of a slice of pizza decreases from $2.50 to $1.00?

• Customers will not buy as much pizza.

• Profits of pizza makers will increase.

• There will not be enough pizza produced.

• The cost of producing pizzas will rise.

Which term best describes the message on this poster?

• Insurance

• Deposit

• Investment

• Guarantee

Which economic factor has most likely determined the price in this picture?

• Demand

• Scarcity

• Capital

• Consumption

A discount is a form of...

• incentive.

• resource.

• capital.

• consumption.

What is one way to lower the cost of production?

• Hire additional workers

• Create new technologies

• Use more resources

• Offer discount prices

____ and ____ are two forces that determine the price of a good or service.

• Supply and demand

• Production and consumption

• Duties and responsibilities

• Inflation and deflation

The perfect price is where supply and demand intersect called the _____.

• equilibrium price.

• deflationary price.

• supply price.

• discount price.

____ is when a business' expenses are more than its revenues.

• Loss

• Profit

When the supply of a product increases, the price goes ____.

• up.

• down.