Supply

A decrease in the price of a good will

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

Which way does a supply curve slope?

• down
• up
• both
• neither

Which graph below shows the SUPPLY CURVE?

• A
• B
• C
• D

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

The Law of Supply states:

• as price increases, supply increases
• as prices decrease, supply increases

The movement from Point A to Point B represents a(n)

• increase in the price.
• decrease in the quantity supplied.
• shift in the supply curve.
• Both Orange and Blue are correct.

Which of the following would not shift the supply curve for iphones?

• an increase in the price of iphones
• a decrease in the number of sellers of iphone
• an increase in the price of plastic, an input into the production of iphones
• an improvement in the technology used to produce iphones

New technology advances the rate at which furniture can be assembled. Why does this change the supply?

• Change in cost of production
• Changes in number of producers
• Changes in expectations

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

• supply
• demand