
Supply Review
Quiz
•
Social Studies
•
12th Grade
•
Medium

Jordan Kazmierski
Used 1+ times
FREE Resource
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23 questions
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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
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A table showing the relationship between prices and quantities supplied is a
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A graph showing the relationship between price and quantity supplied is called
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The sum of the fixed and variable costs is known as
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As production increases, total fixed costs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Costs that increase with the amount produced are called
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
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