C5S3 - What Factors Affect Supply?

What do the different points along a supply curve show?

• changes in costs

• changes in productivity

• changes in quantity supplied

• changes in supply

What is an excise tax?

• a tax on the removal of toxic material

• a tax on goods that are exported to another country

• a tax on the production or sale of specific goods or services

• a tax on the purchase of goods or services from overseas

What is it called when government controls business behavior through rules or laws?

• duty

• inspection

• regulation

• subsidy

What is the most likely outcome when the number of producers of a particular product rises?

• a decrease in competition

• a rise in price

• an increase in supply

• a decrease in supply

Which of the following are examples of government actions?

• excise tax, input costs, regulation

• productivity, regulation, subsidy

• excise tax, input costs, productivity

• excise tax, regulation, subsidy