Supply

Supply

12th Grade

20 Qs

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Supply

Supply

Assessment

Quiz

Others

12th Grade

Hard

Created by

OMKAR EDULAKANTI

Used 3+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is total output defined as?

The total quantity of inputs used

The sum total of the quantity of the commodity produced

The total revenue generated from sales

The total number of workers employed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does stock refer to?

The total quantity of goods produced

The total quantity of commodity available for sale

The total revenue from sales

The total number of consumers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is supply expressed?

In relation to profit and loss

In relation to time, price, and quantity

In relation to stock and consumption

In relation to demand and production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Paul Samuelson, what does supply refer to?

The relationship between market prices and quantity supplied

The total cost of production

The total stock available for sale

The total output of a commodity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an individual supply schedule?

A list of all producers in the market

A summary of consumer demand

A graphical representation of supply

A tabular representation of quantities offered for sale

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor does NOT influence supply?

State of technology

Cost of production

Price of the commodity

Consumer preferences

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to supply when the price of inputs increases?

Supply remains unchanged

Supply decreases

Supply becomes elastic

Supply increases

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