1. The retail price for mango gradually decreased up ¼ of its previous market price.
- UP OR DOWN: UP
- Explanation: A decrease in price typically leads to an increase in quantity demanded, as consumers are more willing to buy at a lower price.
2. The retail price for red onions has increased by ¼ of its previous market price.
- UP OR DOWN: DOWN
- Explanation: An increase in price usually results in a decrease in quantity demanded, as consumers are less willing to buy at a higher price.
3. The price of a pair of branded rubber shoes is marked down to 50% of its original price.
- UP OR DOWN: UP
- Explanation: A significant decrease in price (to half) will likely increase the quantity demanded, as the product becomes more affordable.
4. The market price of sweetened peanut butter has doubled compared to its retail price in the previous months.
- UP OR DOWN: DOWN
- Explanation: A doubling of price will likely decrease the quantity demanded, as consumers may find it too expensive and seek alternatives.
5. The cost of a children's stationery set is marked up after the back-to-school sale.
- UP OR DOWN: DOWN
- Explanation: An increase in price after a sale will likely decrease the quantity demanded, as the product is now more expensive than during the sale.
Parent Tip: Review the logic above to help your child master the concept of supply demand worksheet.
