
Economics B 1.3.2
Authored by Darren Hurst
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12th Grade
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a supply curve show in the context of a market?
The relationship between the price of a good and the quantity demanded
The relationship between the price of a good and the quantity supplied
The relationship between the cost of production and the quantity demanded
The relationship between the producers' decisions and the consumers' preferences
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is generally true about the slope of a supply curve?
It is usually a negative slope.
It is usually a positive slope.
It is always a horizontal line.
It is always a vertical line.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when there is a "shift" in the supply curve?
The curve moves up or down without changing its slope.
The quantity supplied changes at every price level.
The price of the good changes but the quantity supplied remains the same.
The curve becomes steeper or flatter.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor can cause a shift in the supply curve?
Changes in consumer preferences
Changes in the costs of production
Changes in the weather conditions
Changes in the quantity demanded
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can new technology affect the supply curve?
It can decrease the efficiency of production and shift the supply curve inwards.
It can increase the price of goods and shift the supply curve downwards.
It can increase the efficiency of production and shift the supply curve outwards.
It has no effect on the position of the supply curve.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of indirect taxes on the supply of goods?
They increase the supply of goods as producers are willing to produce more.
They have no effect on the supply of goods.
They decrease the supply of goods as producers are less willing to produce for decreased profits.
They increase the cost of goods but also increase the supply simultaneously.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do subsidies affect the cost of production and supply of goods?
They increase the cost of production and decrease supply.
They have no effect on the cost of production or supply.
They decrease the cost of production and increase supply.
They decrease the cost of production but also decrease supply.
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