supply

supply

11th Grade

13 Qs

quiz-placeholder

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supply

supply

Assessment

Quiz

Social Studies

11th Grade

Medium

Created by

Aditya Bhardwaj

Used 28+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

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

Media Image

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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