Inquiry 4

What does supply mean?

• How much of an item people are willing to buy

• Money received from selling goods and services

• How much of anything is available for sale

• Money spent that doesn't change as more items are made

What does demand mean?

• Money spent that doesn't change as more items are made

• How much of anything is available for sale

• Money received from selling goods and services

• How much of an item people are willing to buy

What is a marketplace?

• Money received from selling goods and services

• Wherever goods and services are offered for sale

• How much of an item people are willing to buy

• Money spent that doesn't change as more items are made

When demand for an item goes up, but the supply stays the same, the price goes..

• up

• down

When demand goes down, but the supply remains the same, prices go..

• up

• down

When supply goes up and the demand stays the same, the prices go..

• up

• down

When supply goes down and then demand stays the same, the prices go..

• up

• down

What is an import?

• Goods that are brought in from another country

• Goods that we send out to other countries

What is an export?

• Goods that we send out to other countries

• Goods that are brought in from another country

Have prices increased or decreased overtime?

• increased

• decreased