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WorksheetsSupply Graphs
Total questions: 20
Worksheet time: 1hrs 4mins
Name
Class
Date
1.
A decrease in the price of a good will
a)
increase supply.
b)
decrease supply.
c)
increase quantity supplied.
d)
decrease quantity supplied.
2.
Which way does a supply curve slope?
a)
down
b)
up
c)
both
d)
neither
3.
Which graph below shows the SUPPLY CURVE?
a)
A
b)
B
c)
C
d)
D
4.
This part of the market determines SUPPLY
a)
buyers
b)
sellers
c)
consumers
d)
us
5.
The diagram represents a(n)
a)
increase in supply
b)
decrease in supply
c)
change in quantity supplied
d)
none of the above
6.
The Law of Supply states:
a)
as price increases, supply increases
b)
as prices decrease, supply increases
7.
The movement from Point A to Point B represents a(n)
a)
increase in the price.
b)
decrease in the quantity supplied.
c)
shift in the supply curve.
d)
Both Orange and Blue are correct.
8.
Which of the following would not shift the supply curve for iphones?
a)
an increase in the price of iphones
b)
a decrease in the number of sellers of iphone
c)
an increase in the price of plastic, an input into the production of iphones
d)
an improvement in the technology used to produce iphones
9.
New technology advances the rate at which furniture can be assembled. Why does this change the supply?
a)
Change in cost of production
b)
Changes in number of producers
c)
Changes in expectations
10.
What is quantity of a good or service that producers sell at a market price?
a)
supply
b)
demand
11.
A decrease in the price of a good will
a)
Decrease quantity supplied
b)
Decrease demand
12.
Auto Union Workers Agree to Wage Cuts
a)
b)
c)
d)
13.
New robot increase efficiency for Autos
a)
b)
c)
d)
14.
Cost of Steel decreases
a)
b)
c)
d)
15.
Major Auto producer goes out of business
a)
b)
c)
d)
16.
Government gives Car producers Subsidies
a)
b)
c)
d)
17.
Price of Autos increase
a)
increase in supply
b)
increase in quantity supplied
c)
decrease in supply
d)
decrease in quantity supplied
18.
What is the relationship between the Price and Quantity Supplied
a)
Direct Relationship
b)
Inverse Relationship
c)
Positive Relationship
d)
Negative Relationship
19.
What is the direction of the supply curve from Left to Right?
a)
Upward
b)
Downward
c)
Sideward
d)
No answer in the choices
20.
How does taxes affect production or supply?
a)
creates more supply
b)
creates less supply
c)
creates variable supply
d)
does not affect the supply
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