Supply and Demand in American History
D2.Eco.7.3-5
NameDate
Circle the best answer.
1.In the early 1930s many people had little money. What happened to the prices farmers got for crops?
- A.They rose, because everyone was rich
- B.They fell, because demand dropped
- C.They doubled every year
2.In colonial towns a blacksmith set his own prices and kept his profits. What is this system called?
- A.Free enterprise
- B.Rationing
- C.A royal monopoly
3.During World War II the demand for tanks and planes soared. How did car factories respond?
- A.They switched to making war supplies
- B.They made more cars than ever
- C.They closed for the whole war
4.Why did merchants such as Levi Strauss open stores in San Francisco during the Gold Rush?
- A.To sell goods to miners and earn a profit
- B.Because the government ordered them to
- C.To dig for gold themselves
5.After kerosene from oil became cheap in the 1860s, what happened to the demand for whale oil?
- A.It stayed exactly the same
- B.It fell, and the whaling industry shrank
- C.It rose, and whaling grew
6.After the cotton gin made cleaning cotton faster, what happened to Southern planters' demand for land and enslaved labor?
- A.It fell to almost nothing
- B.It rose as planters grew more cotton
- C.It stayed exactly the same
7.In 1849 thousands of miners crowded into California camps with few stores. What happened to the price of flour and shovels?
- A.They were given away free
- B.Prices fell to almost nothing
- C.Prices rose very high
8.When Henry Ford's assembly line made cars cheaper, what happened to the number of people buying cars?
- A.It stayed the same
- B.It fell to zero
- C.It grew
LessonPrint · D2.Eco.7.3-5 · Set 4 · free to copy for classroom use