Goods/ services
Producers/ Consumers
Surplus/ Scarcity
Supply/ Demand
What would happen if...
100
What is a good?
Something that you buy.
100
What is a producer?
Someone who makes things to sell.
100
Surplus is good for producers or consumers?
consumers
100
What is a supply?
How much you have of something.
100
...a famous singer was having a concert and everyone wanted to go?
The tickets would cost a lot
200
What is a service?
Something
200
What is a consumer?
Someone who buys a goog or service.
200
What is scarcity?
Not having enough of something.
200
What is demand?
The amount of people who want to buy a product.
200
...there was bad weather in Ohio and very little corn was harvested?
The price of corn would go up.
300
Is a haircut a good or a service?
service
300
Give an example of a producer?
answers can vary
300
What is surplus?
Having too much of something.
300
What happens to prices if supply is low and demand is high?
they go up
300
What would happen because of the circles part of the picture?
The storm could stop the food from getting to the store.
400
Name a good?
answers can varry
400
Give an example of a consumer
answers may vary
400
How does surplus affect prices.
Prices go down.
400
What happens to prices if supply is high and demand is low?
The go down.
400
...there was a blizzard and everyone went to the store to buy milk?
Could cause a scarcity on milk, prices could go up
500
Does a teacher provide a public or private service?
public
500
When can a person be both a producer and a consumer?
answers can vary
500
What happens to prices if there is a scarcity?
Prices go up.
500
What would happen if the store had a lot of Easter candy and Easter is over?
The prices would go down.
500
There are low prices at a clearnace sale. What could cause this?
low demand