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Ch. 5: Supply

Authored by Renae Stoudt

Social Studies

12th Grade

40 Questions

Used 42+ times

Ch. 5: Supply
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of the law of supply in action?

A farmer maintains the same level of apple production regardless of price changes.
A farmer reduces apple production when prices rise.
A farmer increases apple production when prices rise.
A farmer increases apple production when demand decreases.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a supply curve?

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3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a supply schedule?

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4.

DRAW QUESTION

3 mins • 1 pt

Draw a graph that shows a decrease in quantity supply for Big Macs.

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5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following will cause an increase in quantity supply for Coke?

An increase in production costs for Coke.
A decrease in the price of Coke.
An increase in the price of Coke.

A decrease in the price of Pepsi

6.

MULTIPLE CHOICE QUESTION

45 sec • 2 pts

What causes a movement along the supply curve?

A change in the cost of production

A change in the number of suppliers

A change in technology

A change in the price of the product

7.

MATCH QUESTION

1 min • 1 pt

Match the terms with the correct definitions.

Law of Supply

Amount offered for sale at every price changes which causes the supply curve to shift

Change in Quantity Supply

As price increases the amount offered for sale increases

Change in Supply

Desire and ability to sell a product

Supply

Amount offered for sale changes due to a change in price

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