NEW
Font size
S
M
L
XL
WorksheetsSupply
Total questions: 12
Worksheet time: 2hrs 17mins
Name
Class
Date
1.
Is this graph: Elastic or Inelastic?
a)
Elastic
b)
Inelastic
2.
Is this graph: Supply or Demand?
a)
Demand
b)
Supply
3.
What is quantity of a good or service that producers sell at a market price?
a)
supply
b)
demand
4.
Too many "cooks in the kitchen" is an example of?
a)
Law of Supply
b)
Diminishing Marginal Return
5.
Which is a cause for supply to change? HINT: TRICE
a)
Technology
b)
Taste
6.
A decrease in the price of a good will
a)
Decrease quantity supplied
b)
Decrease demand
7.
Paying rent is an example of what type of cost?
a)
Fixed
b)
Variable
8.
TRICE is the way of shifting supply. What does the letter "I" mean?
a)
Insurance
b)
Input Cost
9.
The Law of Supply states:
a)
as price increases, supply increases
b)
as prices decrease, supply increases
10.
Is this graph: Elastic or Inelastic?
a)
Elastic
b)
Inelastic
11.
This activity (Picture) was an example of what?
a)
Diminishing Marginal Return
b)
Elastic Supply
12.
Paying for food is example of what type of cost?
a)
Fixed
b)
Variable
Reset
