SUPPLY

What happened to a supply curve when supply goes down?

• moves left
• moves rights
• moves up
• moves down

What is the perfect price for a supplier to sell a product & make sure it does not stay for long periods in the store?

• surplus
• shortage

• equilibrium price
• subsidy

What determines price & quantity produced of goods?

• supply
• demand
• consumers
• supply & demand

What is quantity of a good or service that producers sell at a market price?

• supply
• demand
• law of demand
• law of supply

What is a government payment for certain actions?

• tax
• profit
• tariff
• subsidy

Which is not a cause for supply to change?

• subsidy
• government regulations
• taste
• competition

Which way does a supply curve slope?

• down
• up
• both
• neither

a measure of the way a quantity supplied reacts to a change in price

• elasticity of supply
• supply
• elasticity of demand
• profit

Which of these is a fixed cost for a store?

• short-term workers
• rent
• advertising
• inventory

Which of the following is the best example of the law of supply?

• a milling company builds a new factory to process flour for export
• a catering company buys a new dishwasher to make their work easier
• a food producer increases the number of acres of wheat he grows to supply a milling company 
• a sandwich shop increases the number of sandwiches they supply every day when the price is increased