Supply and Demand

How much people want something

• supply
• demand

The making, buying and selling of goods and services

• economics
• inflation
• market
• barter

Another word for money

• coffee

• economics
• currency
• price

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

A general increase in prices

• price
• inflation
• scarcity
• demand

Amazon Prime is selling Smencils.  There are only a few packs left and they are very popular.  What will happen to the price?

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

The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?

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

The amount of goods or services available is called?

• supply
• demand
• producer
• consumer

Physical items that you can touch and see are called:

• Goods
• Needs
• Services
• Wants

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

• rise
• fall
• stay the same
• Consumer