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WorksheetsSelf Revision - Supply
Total questions: 29
Worksheet time: 1hrs 8mins
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?
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
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
What affect do excise taxes on production usually have on the supply curve?
decreases supply, supply curve shifts left
increases supply, supply curve shifts left
decreases supply, supply curve shifts right
increases supply, supply curve shifts right
Which of the following leads to an increase in supply?
Gallery Furniture will raise prices on all wood furniture
six new companies begin producing smart phones
price of a complementary good goes down
increased cyclical employment
If I make Jordans for $50 and sell them for $100. I will make $50. This is an example of...
quantity supplied
demand
supply
profit
Which of these would most likely increase the
supply of soccer balls?
a transportation strike
a government excise tax
a decrease in the price of raw materials
an increase in the supply of tennis balls
Auto Union Workers Agree to Wage Cuts
Cost of Steel decreases
Major Auto producer goes out of business
What is the relationship between the Price and Quantity Supplied
Direct Relationship
Inverse Relationship
Positive Relationship
Negative Relationship
What is the direction of the supply curve from Left to Right?
Upward
Downward
Sideward
No answer in the choices
