Supply

When producers offer more of a good as its price increases and less as its price falls, this defines the

• law of demand

• law of supply

• change in demand

• change in supply

The willingness and ability of a producer to make a product is referred to as

• quantity supplied

• quantity demanded

• supply

• demand

Movement along a supply curve demonstrates

• a change in quantity supplied

• a change in quantity demanded

• a change in supply

• a change in demand

A shift in a supply curve demonstrates

• a change in quantity supplied

• a change in quantity demanded

• a change in supply

• a change in demand

A decrease in supply is demonstrated by which of the following?

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A hurricane wipes out an orange crop in Florida, sharply affecting the supply of oranges. Which chart demonstrates this concept?

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The diagram represents a(n)

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

How many cup holders are producers willing to supply at a price of $2.50?

• 3,000
• 4,000
• 5,000
• 7,000

Auto Union Workers Agree to Wage Cuts

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Cost of Steel decreases

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