Demand and Supply

If there are a lot of mangoes in the market during summer, what happens to their price?

• Price will remain the same

• Price will increase

• Price will decrease

What happens to the price of ice cream in summer?

• Price will decrease

• Price will increase

If there's a lot of raincoats in the store during summer, what happens to their demand and price?

• Price will increase and demand will increase

• Price and demand both will decrease

• Price will remain the same

• Price will decrease and demand will increase

_______ is the number of goods that customers are ready and willing to buy at a given price.

Demand refers to the willingness and ability of customers to buy goods at a certain price.

• False

• True

What happens to the demand of school supplies when it's almost time to go back to school?

• Demand will decrease

• Demand will increase

What will happen to supply of sweater in winter?

• Supply will increase

• Supply will decrease

__________ is the total amount of a specified product or service that is available to customers.

What is a demand?

Christmas has passed, and there are candy canes left over at the grocery store.

• Low demand and low supply

• High demand and low supply

• High demand and High supply

• Low demand and high supply