Supply

Supply

Assessment

Flashcard

Social Studies

11th Grade

Hard

Created by

Wayground Content

FREE Resource

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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

Media Image

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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