Econ: Supply

In a demand curve, the curve slopes...

• Down

• Up

• Horizontal

• Vertical

In a Supply curve, the curve slopes...

• Down

• Up

• Horizontal

• Vertical

The law of demand states that as prices go up, demand....

• Goes Up

• Goes Down

• Stays the Same

• Goes up then Down

The law of supply states that as prices go up, supply....

• Stays the same

• Goes Down

• Goes Up

• Goes up then down

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

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

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

Which of the 8 factors would this scenario fit into?

Because my employees got wages cuts, many quit working for me and the supply of bicycles decreased.

• Technology

• Costs of Resources

• Productivity

• #of Sellers

Which of the 8 factors would this scenario fit into?

The small business, “Rain or Shine,” received a subsidy from the government which helped increase the production of umbrellas

• Productivity

• Technology

• #of sellers

• Subsidies

The goal of producers is to make a....

• Profit

• Sale

• New Product

• million dollars