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