Students complete nine sentences about supply and demand — how price responds to demand increases, what supply represents, and what demand represents. The matching activity pairs supply, demand, import, and export with their economic definitions.
Matching all four economics vocabulary terms — supply, demand, import, and export — to their definitions builds the conceptual framework for analyzing price changes and trade relationships in context.
Style:
Resources and Trade
Part A: Fill in the Blank
Write the missing word or number on each line.
1. When demand for a product goes up and supply stays the same, the price goes up.
2. Supply is the amount of a good that sellers are willing to offer.
3. Demand is the amount of a good that buyers want to purchase.
4. If a store has too many coats at the end of winter, the price usually goes down.
5. A country that sells more goods than it buys has a trade surplus.
6. Bananas are an import to the United States because they are grown in other countries.
7. The US is a major exporter of wheat, corn, and soybeans to other countries.
8. When supply is less than demand, prices tend to rise.
9. A want is something people would like to have but do not need to survive.
Part B: Matching
Match each item on the left to the correct answer on the right.
1. Match each item to its correct answer.
Supply
→ Amount of goods available for sale
Goods brought in from other countries
Demand
→ Amount of goods buyers want
Amount of goods available for sale
Import
→ Goods brought in from other countries
Goods sent to other countries for sale
Export
→ Goods sent to other countries for sale
Amount of goods buyers want
Resources and Trade
★ Part A: Fill in the Blank
Write the missing word or number on each line.
1) When demand for a product goes up and supply stays the same, the price goes up.
2) Supply is the amount of a good that sellers are willing to offer.
3) Demand is the amount of a good that buyers want to purchase.
4) If a store has too many coats at the end of winter, the price usually goes down.
5) A country that sells more goods than it buys has a trade surplus.
6) Bananas are an import to the United States because they are grown in other countries.
7) The US is a major exporter of wheat, corn, and soybeans to other countries.
8) When supply is less than demand, prices tend to rise.
9) A want is something people would like to have but do not need to survive.
★ Part B: Matching
Match each item on the left to the correct answer on the right.
1) Match each item to its correct answer.
Supply
→ Amount of goods available for sale
Goods brought in from other countries
Demand
→ Amount of goods buyers want
Amount of goods available for sale
Import
→ Goods brought in from other countries
Goods sent to other countries for sale
Export
→ Goods sent to other countries for sale
Amount of goods buyers want
Ready to Practice?
Complete each section carefully.
10 Questions
10-15 minutes
Auto-graded
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