Supply and Demand

The farmer is a _____ because they grow crops and sell

• Consumer

• Producer

• Animal

A consumer is who ______

• Buys

• Sells

• Cry

• Draw

Which are services?

• 
• 
• 
• 

Which of the following situations would create a surplus of Playstation 4?

• The equilibrium price of the Playstation 4 is $300 and Walmart sets the price at $300

• The equilibrium price of the Playstation 4 is $300 and Walmart sets the price at $400

• The equilibrium price of the Playstation 4 is $300 and Walmart sets the price at $200

• The equilibrium price of the Playstation 4 is $300 and Walmart is unwilling to sell them.

Willy Wonka makes 300 candy bars a day at his factory. He sells each candy bar for $3.00. Every day 300 kids come to the factory to buy candy bars. Who is part of the demand?

• 300 Kids

• 300 Candy Bars

• The Chocolate Factory

• Willy Wonka

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.

What might happen if the demand for a new type of XBOX began rising quickly?

• The manufacturer would begin making fewer new XBOXs

• Microsoft would raise the price of the new XBOXs

• Microsoft would stop selling the new XBOX

• Microsoft would lower the price of the new XBOX

If the supply decrease, the outputs and productive services will:

• increase

• decrease

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

When the amount supplied is greater than the amount demanded the price will

• go up

• go down

• stay the same