The willingness and ability of a producer to make a product is referred to as
Supply and Law of Supply

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
quantity supplied
quantity demanded
supply
demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A popular musical act announces a concert at a 10,000 seat venue. Prices for tickets skyrocket so the venue announces that there will be 500 standing room only tickets offered. What concept does this demonstrate?
elastic supply
inelastic supply
change in supply
change in quantity supplied
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A hurricane wipes out an orange crop in Florida, sharply affecting the supply of oranges. Which chart demonstrates this concept?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in supply is demonstrated by which of the following?
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following is NOT one of the determinants of supply?
Change in cost of production/resources
Change in number of sellers
Substitutes
Change in technology
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Movement along a supply curve demonstrates
a change in quantity supplied
a change in quantity demanded
a change in supply
a change in demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When producers offer more of a good as its price increases and less as its price falls, this defines the
law of demand
law of supply
change in demand
change in supply
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