Supply and Demand Lesson: Powerpoint and Activities | Social ... - Free Printable

Let's solve the Supply and Demand worksheet step by step. The image contains two sections: a vocabulary matching section and a multiple-choice question section.

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Section 1: Vocabulary Matching

Instructions: Match the definition on the right with the vocabulary word on the left.

We are given:

| Vocabulary | Definitions |
|-----------|-------------|
| 1. Supply | A. How much something costs |
| 2. Demand | B. How much of something people want |
| 3. Producer | C. Something someone buys or uses |
| 4. Consumer | D. The person who buys a product or service |
| 5. Product | E. The person who makes a product |
| 6. Price | F. How much of something a person has |

Now, let’s match each term correctly:

1. Supply → F. How much of something a person has
*(Supply refers to the amount of a good or service available.)*

2. Demand → B. How much of something people want
*(Demand is the desire for a product backed by the ability to pay.)*

3. Producer → E. The person who makes a product
*(A producer creates goods or services.)*

4. Consumer → D. The person who buys a product or service
*(A consumer purchases goods or services.)*

5. Product → C. Something someone buys or uses
*(A product is an item that can be bought or used.)*

6. Price → A. How much something costs
*(Price is the amount of money needed to buy something.)*

✔ Final Matching:
- 1 – F
- 2 – B
- 3 – E
- 4 – D
- 5 – C
- 6 – A

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Section 2: Circle the Correct Word

Instructions: Circle the correct word to complete the sentence.

Let’s go through each one:

1. When supply goes UP and demand goes DOWN, prices go _________.
- If supply increases (more available), and demand decreases (less wanted), then prices go down.
- ✔ Answer: down

2. When supply goes DOWN and demand goes UP, prices go _________.
- Less supply + more demand = higher prices.
- ✔ Answer: up

3. When a lot of people want an item, then its demand is _________.
- High demand means many people want it.
- ✔ Answer: high

4. When there are a lot of an item, then its supply is _________.
- More items available = high supply.
- ✔ Answer: high

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✔ Final Answers:

#### Matching:
1. Supply → F
2. Demand → B
3. Producer → E
4. Consumer → D
5. Product → C
6. Price → A

#### Multiple Choice:
1. down
2. up
3. high
4. high

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📌 Explanation Summary:

- Supply and demand determine price in a market.
- When supply increases and demand decreases, prices fall.
- When supply decreases and demand increases, prices rise.
- Producers make products; consumers buy them.
- Products are things we use; price is what we pay.

This is a foundational concept in economics — the law of supply and demand.

Let me know if you'd like a visual explanation or diagram!