Law of 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

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 decrease in the price of a good will

• increase supply.
• decrease supply.
• increase quantity supplied.
• decrease quantity supplied.

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

How Many cup holders are producers willing to supply at a price of $3.00?

• 3,000
• 4,000
• 5,000
• 7,000

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

• 3,000
• 4,000
• 5,000
• 7,000

When the demand for a product or service is higher than the supply this causes what?

• shortage
• consumer
• surplus
• equilibrium

When there is a shortage the price will usually? 

• rise
• fall
• remain the same
• equilibrium

When producers offer fewer products for sale at the same prices

• Supply curve shifts right

• Supply curve shifts left

• They expect subsidies

• The price per unit has decrease