Business and the Economy

When you cannot easily find a product or service that you want, this is known as...

• supply

• demand

• scarcity

• economy

When the ________ of an item is high, sellers often reduce (lower) the price.

• supply

• demand

• scarcity

• economy

When the ________ for an item is high, sellers often increase the price.

• supply

• demand

• scarcity

• economy

This word means all of the business, all of the buying and selling that happens in our country.

• supply

• demand

• scarcity

• economy

When goods are being sold faster than they can be produced, this is called...

• free enterprise

• profit

• competition

• overconsumption

The money a business makes after all their business expenses are paid for...

• free enterprise

• profit

• competition

• overconsumption

Other businesses that consumers can choose from; for example, streaming services are _______ for movie theaters.

• free enterprise

• profit

• competition

• overconsumption

When buyers can choose what they want to buy and sellers can choose what they want to sell, this is...

• free enterprise

• profit

• competition

• overconsumption

What other career did Wallace Amos have success in before he started making cookies?

• musician

• talent agent

• surfing

• jewelry

Which company bought Famous Amos cookies in 1998?

• Shansby

• Chips Ahoy

• Keebler

• Hershey