Supply 2023

Multiple Choice

The relationship between demand and price is...

• Direct

• Inverse

Multiple Choice

As the price of a good increases, the QUANTITY DEMANDED will...

• Increase

• Decrease

Multiple Choice

If there is a change in price, the _____________ will change.

• Quantity Demanded

• Demand

Multiple Choice

All of a sudden, wearing shoulder pads is all the rage. What will happen to the demand for shoulder pads?

• The point on the curve will move up

• The curve will shift to the right

• The point on the curve will move down

• The curve will shift to the left

Multiple Choice

The relationship between supply and price is...

• Direct

• Inverse

Multiple Choice

The slope of the supply curve is always

• Upward

• Downward

REMEMBER, PRICE IS THE ONLY THING THAT CAN CAUSE MOVEMENT ON THE CURVE (CHANGE IN QUANTITY DEMANDED)

THE NEXT SLIDES ALL CHANGE SUPPLY

(YOUR WHOLE CURVE WILL SHIFT)

TO SHIFT OR NOT TO SHIFT

WORK OUT THE EXAMPLES ON YOUR PACKET, THEN CHECK YOUR WORK USING THE FOLLOWING SLIDES.