Bad weather destroyed most of the apple trees on a farm. This will have an effect on the price of the remaining apples. Which statement best describes the effect on the price?
Scarcity

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Other
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3rd Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
The price will likely increase, because there are fewer apples available to buy.
2.
FLASHCARD QUESTION
Front
What is Scarcity?
Back
Not being able to meet all wants at the same time because resources are limited.
3.
FLASHCARD QUESTION
Front
Which answer choice is NOT a resource to make an apple pie? Options: apples, flours, chicken, sugar
Back
chicken
4.
FLASHCARD QUESTION
Front
Last year, a bakery bought 80 pounds of raisins for $4 a pound. This year, there was a smaller crop of grapes. What will happen to the price of raisins?
Back
The price of raisins will increase.
5.
FLASHCARD QUESTION
Front
Weather was warm with enough rain this spring, and the amount of cherries grew double this year than last year. Sammy needs cherries to bake a cherry pie. What will happen to the cost of cherries for Sammy to bake a cherry pie?
Back
Cost to make a cherry pie will decrease
6.
FLASHCARD QUESTION
Front
Due to a bumper crop of wheat this year, the supply of flour has increased significantly. What is likely to happen to the price of flour?
Back
The price of flour will decrease.
7.
FLASHCARD QUESTION
Front
A new technology has made it easier to harvest oranges, increasing the supply. How will this affect the price of orange juice?
Back
The price of orange juice will decrease.
8.
FLASHCARD QUESTION
Front
What happens when demand for a product exceeds its supply?
Back
The price of the product will increase.
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