Econ: Supply
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Vincent Quintana
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a demand curve, the curve slopes...
Down
Up
Horizontal
Vertical
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a Supply curve, the curve slopes...
Down
Up
Horizontal
Vertical
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The law of demand states that as prices go up, demand....
Goes Up
Goes Down
Stays the Same
Goes up then Down
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The law of supply states that as prices go up, supply....
Stays the same
Goes Down
Goes Up
Goes up then down
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the 8 Factors would this scenario fit into?
An owner of a factory purchases new machines to increase production.
Productivity
#of sellers
Technology
Seller Expectations
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the 8 factor would this scenario fit into?
The government implements new taxes on all auto makers.
Government Regulation
Costs of Resources
Subsidies
Taxes
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the 8 factors would this scenario fit into?
With Easter coming up in a month I am going to increase the production of chocolate bunnies.
Seller Expectations
#of Consumers
Productivity
Technology
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