Economics Practice 12: High Demand and Low Supply Exercise

Economics Practice 12: High Demand and Low Supply

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Economics Practice 12: High Demand and Low Supply

Examine what happens in a market when demand is high but the available supply is low.

Questions

  1. MultiChoice

    When a brand-new toy releases right before holidays and sells out everywhere, this is an example of...

  2. MultiChoice

    What happens to ticket prices for a big championship game when thousands of fans want a few seats?

  3. WordsBox

    When an item is rare and popular, ____ is high and ____ is low.

  4. MultiChoice

    If a bakery bakes 12 special cupcakes and 50 customers line up to buy them, what will happen?

  5. MultiChoice

    Why might concert tickets sell out in five minutes?

  6. MultiChoice

    If a freeze in Florida destroys most oranges, what happens to orange juice supply and price?

  7. WordsBox

    High demand coupled with low supply creates a ____ and pushes prices ____

  8. MultiChoice

    Why do collectors pay high prices for rare old coins?

  9. MultiChoice

    What is happening when people resell scarce event tickets for very high prices?

  10. WordsBox

    A limited edition toy has a small ____ which can cause high ____

  11. MultiChoice

    If everyone wants sunblock at the beach on a scorching summer day, what happens to demand?

  12. MultiChoice

    How can a store owner respond to high demand and low supply of a product?