It’s April in Florida and many people need umbrellas. There are not many umbrellas available in stores. The SUPPLY for umbrellas is ______?_____.
It’s Hurricane season and many people need to purchase batteries in case there is a storm. There are not many AA batteries, but there are plenty of AAA batteries. The DEMAND for AA batteries is ___?___.
Match the vocabulary to it's definition.
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
Supply | arrow_right_alt | When there is not enough of something. |
Demand | arrow_right_alt | The amount of a good or service available. |
Scarcity | arrow_right_alt | How much people want the good or service. |
The school is selling yearbooks, but there is not enough for everyone. This is an example of __?__.
When an item is wanted by many people, the item is in ___?___ demand.
When you have few of an item, but many people want it, your item is in high ___?____.
When you have few of an item, but many people want it, your item is in low ___?____.
Consumers ___?___ goods or services.
CHOOSE ALL THAT APPLY. Producers ___?___ goods or services.
A chef is a __?__.
A person getting a haircut is a __?__.
Which is a service?
What is a good?