
Supply & Market Equilibrium
Authored by Jen Zazzarino
Social Studies
12th Grade
Used 78+ times

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18 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"holding all else equal, when the price of a good rises, suppliers increase their quantity supplied for that good"
law of supply
law of demand
law of equilibrium
opportunity cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The table summarizing quantity supplied at several prices is known as the
demand schedule
supply schedule
supply curve
equilibrium point
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Values of the supply schedule are shown graphically in the
supply schedule
equilibrium point
demand curve
supply curve
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in supply causes the supply curve to shift to the
right
left
no change
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in supply causes the supply curve to shift to the right.
true
false
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the cost of one aspect of a good decreases, it becomes cheaper to produce that good, and producers increase supply.
true
false
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A technological improvement usually leads to a decrease in supply.
true
false
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