Here are the answers to fill in your worksheet.
Words for the Graphic Organizer:
*
Supply:
1. Amount available
2. Stock
3. Production
*
Demand:
1. Want
2. Need
3. Desire
1. What is the difference between supply and demand?
Supply is how much of a product or service is available for people to buy. Demand is how much people want or need that product. Basically, supply is what sellers have, and demand is what buyers want.
2. What is the difference between a buyer and a seller?
A buyer is a person who pays money to get a good or service. A seller is a person or business that provides the good or service in exchange for money.
Examples of Supply:
* The number of bicycles a bike shop has in its store.
* The amount of corn farmers grow and bring to the market.
* The number of seats available on an airplane.
Examples of Demand:
* People wanting to buy umbrellas when it is raining.
* Customers lining up to buy the newest video game console.
* Families needing to buy school supplies in August.
Parent Tip: Review the logic above to help your child master the concept of supply and demand worksheet for middle school.
