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Money · Ages 10+ · Set B
Supply and demand
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Goal: 15 min
Score/ 12
Remember: A price settles where the number wanted meets the number offered.

Questions

1
Which one is not true about supply, demand and Juno's scarves?
📉Unsold scarves piling up can push a price down🥺A shortage is more people wanting one than are made👑The biggest seller alone sets the market price
2
Which scarf price is the one where six people want one?
🔟a ten-coin scarfa six-coin scarfa four-coin scarf
3
Which one is true about supply, demand and Juno's scarves?
👑The biggest seller alone sets the market price🥺A shortage is more people wanting one than are made🧺At the market price many scarves are left over
4
Which one is not true about supply, demand and Juno's scarves?
🔼A higher price makes more people want one🧭No single person decides the market price🧶Supply is how many are offered at a price
5
Which one is true about supply, demand and Juno's scarves?
👑The biggest seller alone sets the market price📉Unsold scarves piling up can push a price down🔼A higher price makes more people want one
6
Which one is true about supply, demand and Juno's scarves?
🧶Supply is how many are offered at a price🏭A shortage means too many are made🧺At the market price many scarves are left over
7
📦Is it false? A surplus is more made than people want.
TrueFalse
8
👑True or false? The biggest seller alone sets the market price.
TrueFalse
9
🏭Is it false? A shortage means too many are made.
TrueFalse
10
🥺True or false? A shortage is more people wanting one than are made.
TrueFalse
11
Which one is not true about supply, demand and Juno's scarves?
🧺At the market price many scarves are left over🚶A long queue can push a price up🧭No single person decides the market price
12
Which one is true about supply, demand and Juno's scarves?
🏭A shortage means too many are made❄️A cold snap can make more people want scarves👑The biggest seller alone sets the market price
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Answer key · Set B
Supply and demand
1The biggest seller alone sets the market price
2a six-coin scarf
3A shortage is more people wanting one than are made
4A higher price makes more people want one
5Unsold scarves piling up can push a price down
6Supply is how many are offered at a price
7False
8False
9True
10True
11At the market price many scarves are left over
12A cold snap can make more people want scarves
Mark each answer, count the right ones and write the score on the sheet.