3rd Grade Introduction to Supply and Demand Assessment

Learn about supply and demand! Understand consumers, producers, scarcity, and how they affect prices.

Who are people that buy goods and services? consumers wants producer What are things that people do for us? risk demand service The amount of goods and services that people can sell is called _ . trade profit supply The willingness of consumers to buy goods and services is called _ . demand need economy What is it called when there is not enough of something to meet people's needs and wants? trade scarcity import What is a good? items that can be bought, sold, and traded such as food and computers task you pay someone to do for you a place where buyers and sellers come together Match the given "supply" with the proper demand. Supply is UP, Demand is Low On a rainy day at the ball park, Johnny and Suzy are selling lemonade. The sweater Carol wanted for Christmas is on sale for $10 in July. In December, flip flops went on sale 50% off. Supply is Low, Demand is High During the holiday season, the most popular toy has doubled in price, because so many people want it. The Newest book in the Diary of a Wimpy Kid series is released, and your book store only received a few copies. A store is running low on Christmas ornaments in the month of December.