___________s Lemonade Stand

Supply

Demand

Consumers

Producer

Product

Raw Materials

Price

Part 1: Use the words from the word box to complete the sentences.

1. You are starting your own lemonade stand. This means that you
are a _____________ and the lemonade is the ______________
that you are making and selling.
2. Sugar, ice, cups and lemons are all _______________ that you will
need to make lemonade.
3. The people that buy lemonade from your stand are called
_________________.
4. The _____________ is how much lemonade that you have
available.
5. The _____________ is how much lemonade that people want.
6. The _____________ of your lemonade tells consumers how much
money they will need to buy your lemonade.

Part 2: Answer the following questions using complete sentences.

1. Before opening your lemonade stand for the day, you check the weather forecast and
notice that it is going to be a very hot day. What will this do to the demand for your
lemonade?
____________________________________________________________________
____________________________________________________________________
What should you do to the price of your lemonade? Why?
_____________________________________________________________________
_____________________________________________________________________
2. You have been selling each cup of lemonade for fifty cents. It costs you ten cents to
make each cup of lemonade. How much money are you making from each cup of
lemonade?
____________________________________________________________________

3. A competitor sets up a lemonade stand only two blocks away from your stand. The
competitor is selling each cup of lemonade for forty cents. What should you do?
____________________________________________________________________
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