Supply and Demand
Supply and Demand
Goods and Services
Saving and Spending
Entrepreneurs and Innovations
100

What is supply?

Supply is how much of something you have.

100

What does demand mean?

How much of a good or service people want.

100
Things that are made, manufactured, or grown like clothes, computers or fruit are known as what?
What are goods.
100
What is a plan for spending and saving money?
What is a budget.
100

True or False: Henry Ford is famous for designing airplanes.

False.

200

A pet store accidentally ordered twice as many Blue dog collars than it needed. Would the price increase or decrease? Why?

The price would decrease because the supply is high and the demand is low.

200
Work that someone does for someone else is known as what? (for example, dog walking or a dentist)
What are services.
200

How do people earn money? You may give an example.

Most people earn money from their jobs such as making goods or selling services.

-Mowing a lawn

-Lemonade Stand

-Washing Cars

200
This person is famous for beginning a chocolate business.  W.K. Kellogg, Milton Hershey, Bill Gates
Who is Milton Hershey?
300

A storm destroyed many of the orange crops in Florida. How might this affect the cost of orange juice? Why?  

The price would increase because the supply is low and the demand is high. 

300
Someone who makes or grows goods or sells services is known as what?
Who is a producer
300

Your third grade class gets a quarter in a jar every time they behave the entire day. They are planning on spending the money once the jar is full. Are they currently spending or saving the money?

Saving

300
True or False: Wally Amos is a famous entrepreneur that is known for  Walmart.
What is false.
400
A new gas station opened across from QT.  How did this affect the cost of gas?
The price went down.
400
Does demand increase or decrease when the price rises
What is the demand increases.
400

When you give money to people or groups, it is called what?

Donation.

400
This founder of Walmart is. Walt Disney, Mary Kay Ash, George Lucas.
Who i s Sam Walton?
500
How do producers and consumers affect each other?
What is the supply and demand of the goods or services must meet what the consumer wants.
500
A person who begins a business or innovation is called an entrepreneur: True or False
What is true?
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