Supply Review

What is the term for a government paying for a portion of production costs

• Subsidy

• Taxes

• Debt

• Profit

When goods and services are more expensive because the government takes a portion of each sale

• Subsidy

• Taxes

• Profit

• Payment

When there is an increase in supply due to a larger number of sellers, the supply curve will shift to the

• right

• left

When there is a decrease in supply, due to an expectation that more profit will be made in 2 weeks, the supply curve shifts to the

• right

• left

What will happen to supply for pop-tarts: "Pop-tarts prices sky rocket!"

• Shift left

• Shift right

• No shift, just a movement along the curve

What will happen to the supply for Pizza: "Tomatoes are rising in price rapidly"

• Decrease in supply

• Increase in supply

• No shift, movement along the curve

What happens to supply for Cars: "New robots make car tires 3x faster!"

• No shift, movement along the curve

• Shift right

• Shift left

What will happen to the supply of Laptops: "The Government subsidizes the production of laptop computers"

• Shift right, Increase in Supply

• Shift left, decrease in supply

• No shift, movement along the curve

This part of the market determines SUPPLY

• buyers
• sellers
• consumers
• us

For the law of supply, as price rises, what happens to quantity supplied?

• it goes up
• it goes down
• it stays the same
• it is not effected