Search Header Logo

Supply Review

Authored by Jordan Kazmierski

Social Studies

12th Grade

Used 1+ times

Supply Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As the price of milk increases, producers are normally willing to supply greater quantities. This statement illustrates the law of

Demand
Profitability
Supply
Gravity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A table showing the relationship between prices and quantities supplied is a

Demand Schedule
Demand Curve
Supply Schedule
Supply Curve

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A graph showing the relationship between price and quantity supplied is called

Demand Schedule
Demand Curve
Supply Schedule
Supply Curve

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The sum of the fixed and variable costs is known as

overhead
total cost
supply cost
marginal cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As production increases, total fixed costs

increase
decrease
remain constant
decrease then increase

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Costs that increase with the amount produced are called

variable costs
changing costs
fixed costs
operating costs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a firm can react quickly to increase production and take advantage of higher prices for its products, then supply is likely to be

elastic
inelastic
variable
fixed

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?