Supply

_______________ is the willingness and ability to sell a product.

• Demand

• Supply

• Productivity

• Output

What is the relationship between supply and price?

• Inversely related

• Directly related

A rise in quantity supplied caused by a rise in price of the product itself.

• Shifting of supply

• Contraction of supply

• Extension of supply

A fall in quantity supplied caused by a fall in price of the product

• Extension of supply

• Contraction of supply

A rise in productivity of the factor of production will ___________ the unit costs of the product.

• increase

• decrease

• stay the same

An increase in the wage paid to workers will cause ______________ in supply.

• Increase

• Decrease

Rise in price of raw materials will cause a/an _________ in supply

• Increase

• Decrease

Improvement in technology will raise the productivity of capital, _______ the costs of production and __________ in supply

• Reduce, increase

• rise, decrease

• fall, no change

A rise of existing tax on goods and services will ________ the supply

• increase

• decrease

Discovery of new deposits of gold will _________ the supply

• Increase

• Decrease