WorksheetsLesson 3 and 4 | SUPPLY | Review
Total questions: 35
Worksheet time: 12mins
A hurricane wipes out an orange crop in Florida, sharply affecting the supply of oranges. Which chart demonstrates this concept?
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 the following supply curves demonstrates a decrease in the quantity supplied?
A decrease in supply is demonstrated by which of the following?
Change in Quantity Supplied
Decrease in Supply
Increase in Supply
Decrease in Supply and Decrease in Demand
Auto Union Workers Agree to Wage Cuts
Change in Resources/Inputs
Change in Subsides or Taxes Government Policy
Change in Income
Change in Number of Producers
New robot increase efficiency for Autos
Government gives Car producers Subsidies
The amount of goods or services available for a producer to sell is called?
A drought has made this year's tomato harvest smaller than usual. What will probably happen to the overall supply of tomato sauce?
The supply will probably go up
The supply will probably go down
What will happen to the price of new cars if a weak economy causes people to have lower incomes?
The price will increase
The price will decrease
What will happen to the price of T-Shirts if T-Shirt businesses now use machines that produce twice as many shirts in one hour?
The price will increase
The price will decarese
An observer of this graph would say that it represents a(n):
Increase in supply
Decrease in supply
Decrease in quantity supplied
Increase in quantity supplied
This image represents:
The law of demand
The law of supply
A supply schedule
An increase in quantity demanded
This image represents a(n):
supply schedule
demand schedule
demand curve
supply curve
According to the law of supply, the relationship between price and quantity supplied is:
Direct
Inverse
Not correlated
An observer of this graph would say that it represents a(n):
Decrease in supply
Decrease in quantity supplied
Increase in demand
Increase in quantity supplied
