WorksheetsSupply
Total questions: 18
Worksheet time: 9mins
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
The willingness and ability of a producer to make a product is referred to as
quantity supplied
quantity demanded
supply
demand
Movement along a supply curve demonstrates
a change in quantity supplied
a change in quantity demanded
a change in supply
a change in demand
A shift in a supply curve demonstrates
a change in quantity supplied
a change in quantity demanded
a change in supply
a change in demand
Which of these demonstrates an example of a supply curve? (More than one answer)
Which of the following supply curves demonstrates a decrease in the quantity supplied?
A decrease in supply is demonstrated by which of the following?
A hurricane wipes out an orange crop in Florida, sharply affecting the supply of oranges. Which chart demonstrates this concept?
The prices for houses steadily increase, causing more people to want to sell their homes. Which of these demonstrates this concept?
Which of the following leads to an decrease in supply?
an increase in the cost of raw materials
diminishing marginal returns
a decrease in the cost of raw materials
a change in the law of supply
As opposed to movement along the supply curve, a change (shift) in the entire supply curve is a result of ____.
an increase in price
a change in price and availability
a decrease in price
a change in something other than price
Which of these do the producers of an item hope to achieve when adopting new technology?
a shift of the supply curve for that item to the left
repeal of the subsidy for that item
inelasticity of supply of that item
a shift of the supply curve for that item to the right
Which of these best describes the influence of high prices on the behavior of producers?
High prices are an incentive for producers to produce more.
Producers will use fewer raw materials and less labor
High prices are an incentive for producers to produce less.
Prices have no incentive for producers.
A shift in a supply curve demonstrates
a change in quantity supplied
change in quantity demanded
a change in supply
a change in demand
