Supply & Demand

The want or willingness a consumer has to purchase a good or a service is called?

• shortage
• supply
• price
• demand

The amount of goods or services available for a producer to sell is called?

• supply
• demand
• producer
• consumer

An individual who purchases (buy) goods.

• producer
• consumer
• goods
• services

A drought has made this year's tomato harvest smaller than usual. What will probably happen to the overall supply of tomato sauce?

• The supply will probably go up

• The supply will probably go down

Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?

• The demand will probably go up

• The demand will probably go down

What will happen to the price of new cars if a weak economy causes people to have lower incomes?

• The price will increase

• The price will decrease

What will happen to the price of baby cribs if there is a large increase in the number of babies born?

• The price will increase

• The price will decarese

What will happen to the price of soccer balls if more and more boys and girls are learning to play soccer?

• The price will increase

• The price will decrease

Farmers in California have had wonderful weather. They have produced the largest crop of watermelons in years. What will happen to the price of watermelons?

• The price will go up.
• The price will go down.

Lucas fixes his friend's sink.  He is providing a _____________.

• trade
• opportunity cost
• product
• service