Supply Vocab Review

What happened to a supply curve when supply goes down?

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

What is a government payment for certain actions?

• tax
• profit
• tariff
• subsidy

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

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

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

Which of these is a fixed cost for a store?

• short-term workers
• rent
• advertising
• inventory

A decrease in the price of a good will

• increase supply.
• decrease supply.
• increase quantity supplied.
• decrease quantity supplied.

Which graph below shows the SUPPLY CURVE?

• A
• B
• C
• D

The diagram represents a(n)

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

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)

The government puts regulations on the auto industry forcing them to put new protective technologies (such as new types of airbags) in every car produced?

• shifts right
• shifts left
• movement up supply curve
• movement down supply curve