Supply and Demand- Final Quiz

Match the following:

• things you buy

• Demand

• how much the goods are needed

• goods

• a job a person is paid for

• Supply

• how much there is of goods and services

• services

What business did the third-grade students decide to start?

• Lemonade stand

• Toy store

• Book shop

• Ice cream parlor

What does 'supply' mean in the context of the students' business?

• How much lemonade they have to sell

• How much lemonade their friends want to buy

• The price of lemonade

• The quality of lemonade

Why did the students ask their classmates about their flavor preferences?

• To make lemonade that everyone would enjoy

• To increase the price of lemonade

• To reduce the cost of ingredients

• To decide the location of their stand

What was one of the key lessons the students learned from their business project?

• The importance of supply and demand

• How to make lemonade

• The history of lemonade

• The nutritional value of lemonade

What did the students include in their business plan?

• Who would make and sell the lemonade

• The history of lemonade

• The nutritional value of lemonade

• The environmental impact of lemonade

How did the students feel after creating a business plan?

• Like real business owners

• Confused and lost

• Bored and uninterested

• Tired and exhausted