Supply/Demand
A market orders 20 boxes of blueberries and each box sells for $8.00 and only 1 box is sold at the end of the week. Name the economic situation.
What is low demand, high supply, prices will fall?
Nintendo Wii is...
What is a want?
Early trading
What is bartering?
Setting aside money to use at a later time. (ie. in a piggy bank)
What is saving?
An economic term that describes the total amount of a specific good or service that is available to consumers.
What is supply?
As price decreases demand...
What is Increases?
Water is...
What is a need?
Don’t get back the same coins you give the bank if you are wanting to save certain coins.
What is a disadvantage to saving your money at a bank?
Setting money in a bank that makes more money.
What is investing?
When the books are 5 dollars and 1000 are made each week.
What is an example of supply?
A change in income.
What is demand increases?
Julie, who is 8 years old says that she needs a new bike, her mother says that is a want. Julie is...
What is incorrect?
Becky has a friendship bracelet stand and after buying supplies and the sales are finished. The money left over is...
What are profits?
You are more likely to spend money on the holidays, Sunday, when you have it in a piggy bank.
What is a Disadvantage to saving money in a piggy bank?
An economic term referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.
What is Demand?
Sales, Property, Income
What are taxes?
A firefighter is an example of...
What is a human resource?
The government uses taxes for...
What are roads and bridges, military, firefighters, police, teachers etc?
You can get your money any time.
What is an advantage to saving money in a piggy bank?
Anything made of wood prices increase, lumber at the store increases, the demand for maple syrup increases.
What are trees are in short supply?
As price increases demand...
What is Decreases?
Trees are examples of...
What is a natural resource?
A stove is an example of...
What is a capital resource?
Your money will grow with added interest.
What is an advantage to saving your money at a bank?