If the market supply curve for a product shifts rightwards, what is the best possible explanation for this shift?
supply

Quiz
•
Social Studies
•
11th Grade
•
Medium

Aditya Bhardwaj
Used 28+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Increase in the price of raw materials
Introduction of a tax on that product by the government
Introduction of a new technique that makes the production of that commodity cheaper
An advertising campaign that is successful in promoting the product An advertising campaign that is successful in promoting the product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Law of Supply states:
as price increases, supply increases
as prices decrease, supply increases
as price increases, quantity demanded decreases
as price decreases, quantity demanded decreases
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to a supply curve when supply goes down?
moves right
moves left
moves upward
moves downward
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How would increase in steel prices affect supply of cars?
increase in supply
increase in demand
decrease in demand
decrease in supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the determinants (factors) that cause an increase or decrease in supply?
Change in cost of production
Change in number of sellers
Substitutes
Change in technology
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What causes movement along the supply curve?
Taxes, Subsidies, Regulations, cost of inputs
ONLY a change in price
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
number of firms is a determinant of individual supply
true
false
maybe
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