Supply Test

Supply Test

Assessment

Flashcard

Social Studies

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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4 questions

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1.

FLASHCARD QUESTION

Front

According to the law of supply, what happens when the price of a good increases?

Back

Producers supply more of the good.

2.

FLASHCARD QUESTION

Front

What is the definition of marginal product?

Back

The change in total product from hiring one more worker

3.

FLASHCARD QUESTION

Front

What happens to supply when input costs decrease?

Back

Supply Increases

4.

FLASHCARD QUESTION

Front

A government payment that encourages production by partially covering costs is called a _________.

Back

subsidy

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