Supply
Flashcard
•
Social Studies
•
11th Grade
•
Hard
Wayground Content
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28 questions
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1.
FLASHCARD QUESTION
Front
The willingness and ability of a producer to make a product is referred to as
Back
supply
2.
FLASHCARD QUESTION
Front
A hurricane wipes out an orange crop in Florida, sharply affecting the supply of oranges. Which chart demonstrates this concept?
Back
3.
FLASHCARD QUESTION
Front
A decrease in the price of a good will
Back
decrease quantity supplied.
4.
FLASHCARD QUESTION
Front
Which way does a supply curve slope? downwards, upwards, straight across horizontally , straight across vertically
Back
upwards
5.
FLASHCARD QUESTION
Front
This part of the market determines SUPPLY in a free enterprise system
Back
producers
6.
FLASHCARD QUESTION
Front
The Law of Supply states:
Back
as price increases, supply increases
7.
FLASHCARD QUESTION
Front
New technology advances the rate at which furniture can be assembled. Why does this change the supply?
Back
Change in cost of production
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