SUPPLY!!!

besides price, supply can shift due to factors that are known as --

• price of resources

• determinants of supply

• demand

• competition

If a slight price increase leads to an increase of production, then that supply is considered __

• inelastic

• elastic

Businesses pay the gov't, which helps pay for gov't services- but can lead to higher prices for their products

• subsidies

• cost of production

• regulations

• taxes

When the gov't pays money to businesses, usually to encourage them to produce a certain product..

• taxes

• regulations

• competition

• subsidies

Which government tool can cause changes in supply levels and force the supply curve to shift?

• taxes

• subsidies

• regulations

• all of these

If new technology leads to faster and more efficient production, then ___

• supply would increase and the supply curve would shift right

• supply would decrease and the supply curve would shift left

• demand would increase and the demand curve would shift right

• there would be no change

The cost of production includes the price of resources. If resources become more expensive, what will happen to supply levels?

• increase

• decrease

• remain the same

• come to a complete stop

When prices rise, supply levels will also increase. If prices drop, supply will also fall.

• law of supply

• law of demand

• determinant of supply

• cost of production

Once a business has paid all of its costs, the money left over is ___

• revenue

• profit

• supply

• tax

the main factor that causes a change in supply

• price

• style

• taxes

• regulations