Economics Pre/Post-test

Front

The newest video has come out and each store only gets a few of them in stock.

Back

High demand and low supply

Front

St. Patrick's Day is over, but the store has a lot of party supplies left over. What does this indicate?

Back

Low demand and high supply

Front

Indiana hasn't had any rain and it has affected important crops. What will happen to the price of produce?

Back

Price on produce will increase

Front

Stores have a surplus of wrapping paper after Christmas. What will happen to the price of wrapping paper?

Back

Price on wrapping paper will decrease.

Front

When supplies are scarce, the prices

Back

go up

Front

We have this type of economy in the United States: Market Economy, Dual Economy, Profit Economy, Market Profit

Back

Market Economy

Front

Someone who supplies goods and services

Back

Producer

Front

When you go to the store, you are a

Back

consumer

Front

Walmart and Meijer both have sales this week on different items. This is an example of

Back

Competition

Front

You have a business and have sold $500 worth of things. You paid all of your suppliers, and workers. The money left over is a

Back

profit