SUPPLY!!!

Front

the main factor that causes a change in supply

Back

price

Front

besides price, supply can shift due to factors that are known as --

Back

determinants of supply

Front

When prices rise, supply levels will also increase. If prices drop, supply will also fall.

Back

law of supply

Front

When the gov't pays money to businesses, usually to encourage them to produce a certain product..

Back

subsidies

Front

Businesses pay the gov't, which helps pay for gov't services- but can lead to higher prices for their products

Back

taxes

Front

If new technology leads to faster and more efficient production, then ___

Back

supply would increase and the supply curve would shift right

Front

If determinants of supply lead to an increased level of production, the supply curve will shift

Back

to the right

Front

The cost of production includes the price of resources. If resources become more expensive, what will happen to supply levels?

Back

decrease

Front

Which government tool can cause changes in supply levels and force the supply curve to shift? Options: taxes, subsidies, regulations, all of these

Back

all of these

Front

If a slight price increase leads to an increase of production, then that supply is considered __

Back

elastic