Interactive Lesson 

Watch the video entitled 

 read the text and answer the following questions :

  1. What is the definition of demand as explained in the text?
  2. How does the text describe the relationship between the number of people wanting a good or service and its demand?
  3. Define supply according to the text. How is it related to the availability of a good or service?
  4. Explain the impact of a higher production of a good or service on its supply.
  5. Using the example of bananas, how does the text illustrate a situation where demand exceeds supply?
  6. In the banana example, why might a producer increase the price of bananas when demand is high?
  7. How does the addition of another banana producer affect the balance between supply and demand in the market?
  8. If the supply of bananas exceeds the demand, what strategy might producers use to encourage consumers to buy their product?
  9. How does understanding the principles of supply and demand relate to consumer behavior?
  10. Why is it important for businesses to grasp the concepts of supply and demand in their operations?