Supply Review (and some demand too)

What determines price & quantity produced of goods?

• supply
• demand
• consumers
• supply & demand

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

What happened to a supply curve when supply goes down?

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

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

The diagram represents a(n)

• increase in supply
• decrease in supply
• change in quantity supplied
• none of the above

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

If a new, huge oil reservoir was found in Ohio, this would cause the ___________ curve for oil and gas to shift ____________.

• demand.........right
• demand.........left
• supply.......right
• supply....... left

More sellers enter the "Pizza" market. What happens to the total number of pizzas supplied?

• they decrease (curve shifts left)
• they increase (curve shifts right)
• they stay the same (the curve stays)

What causes movement along the supply curve?

• Taxes, Subsidies, Regulations, cost of inputs
• ONLY a change in price