Font size
WorksheetsFactors of supply changes
Total questions: 20
Worksheet time: 20mins
Below are the factors of production, except....
Labors
Raw materials
Power Supplies
Market
Higher price of raw material may lower the supply.
True
False
What is the best decision the company has to make when facing raw materials shortage?
Decrease the company supplies
Rent more building
Cut the number of the employee
Increase the quantity supply
Market price is highly affected by the cost of production and the supply
True
False
When supply can meet the demand will have the ...
(pick 2 options)
Market price
Equilibrium price
Surplus
Shortage
If the price of factory machinery would likely to decrease, what decision a company could make?
Decrease the quantity of supplied
Rent more building to increase the supply
Purchase the machine to increase the supply
Cut the salary of the labors
Advanced technology will cut the production cost
True
False
What is one positive point to have a better machinery?
Pollution in the environment
A cheaper way of production
Less employed work force
Increase consumption of power supply
If the demand for one particular product is likely to increase, what decision a company may make?
Decrease the product's supply to preserve the raw materials
Higher the rate of the employee's salary, because the company likely to make profit
Buy more machinery to increase the supply of the high-demanded products
Decrease the supply of other products and increase the supply of the high-demanded product
Excess supply is called (a)
Excess demand is called
(a)
Surplus is when ...
Supply is higher than demand
Demand is higher than supply
Demand and supply are at the same level
Shortage is when ...
Supply is higher than demand
Demand is higher than supply
Demand and supply are at the same level
When surplus and shortage happen, there will be ...
(a)
Look ate the following graph. What is the market price?
$1.40
$1.00
$1.80
$2.20
Look ate the following graph. At what price does the surplus happen?
Choose 2 options
$1.40
$1.00
$1.80
$2.20
Look ate the following graph. At what price does the shortage happen?
Choose 2 options
$1.40
$1.00
$1.80
$2.20
What would happen to the price of certain products when surplus and shortage happen?
During the COVID-19 outbreaks, list down 3 products that would be supplied more.
List down 5 examples of global factors which will affect the supply of certain products.
