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Theory Of Supply

Authored by Gaurangi Bhat

Social Studies

10th Grade

35 Questions

Used 20+ times

Theory Of Supply
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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

supply
demand
law of demand
law of supply

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is not a cause for supply to change?

subsidy
government regulations
taste
competition

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When the selling price of a good goes up, what is the relationship to the quantity supplied? 

the cost of production goes up
the profit made on each item goes up
it becomes practical to produce more goods
there is no relationship between the two

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happened to a supply curve when supply goes down?

moves left
moves rights
moves up
moves down

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This part of the market determines SUPPLY

buyers
sellers
consumers
us

6.

MULTIPLE CHOICE QUESTION

1 min • 12 pts

In general, if the price of a good or service goes up, what happens to the supply for that good or service?

supply goes up
supply goes down
supply stays the same
none of  the above

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The diagram represents a(n)

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

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