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

The Law of Supply states:

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

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

Which of the following supply curves demonstrates a decrease in the quantity supplied?

• 
• 
• 
• 

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

• 
• 
• 
• 

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

• 
• 
• 
•