[ 435 ] Economics GED ® TEST SOCIAL STUDIES FLASH REVIEW • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • In this excerpt, a producer refers to: a. a seller of a product or service b. a buyer of a product or service c. a creator of a movie or recording d. a person or company that decides the price of a product The following chart reveals the demand for pizza at a local restaurant. What is the best generalization based on the data in the chart? Demand for Pizza Price Number of slices of pizza sold $3.00 6 $2.50 18 $2.00 30 $1.50 45 $1.00 66 a. Advertising has no effect on the price of an object. b. The highest profit can be made by selling pizza at $2.00 a slice. c. Price has little effect on the demand for an object. d. Demand for an object rises as the price falls.