supply and Deman

Supply

• the amount of a good available for purchase

• the price of an item

• the property of an owner

• the amount of profit collected

Is the supply HIGH or LOW...

Mom just baked 15 cookies and 12 friends are coming over

• High

• Low

When the demand for an item is high, people are willing to pay more for that item. The price will.....

• increase

• decrease

Is the demand high or low..

Store just received a truck full of apples. Two people are in line to purchase apples.

• high

• low

economy

• production of goods

• the amount of goods

• production, consumption or trade of goods and services

• the balnce of wealth and power

When the demand for an item is ​ ​ (a)   the price will be low. this means the price will ​ (b)  

• low
• decrease
• high
• increase
• stay the same

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

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

• shortage
• supply
• price
• demand

When there is a shortage the price will usually? 

• rise
• fall
• remain the same
• equilibrium

If the supply of peanuts is high and the demand of peanuts is low what would the price of peanuts be ?

• High

• Low