Economics - Supply and Demand

The amount of goods available:

• Supply
• Demand
• Utility
• Equilibrium

The tendency of suppliers to offer more of a good at a higher price:

• Law of Supply
• Law of Demand
• Law of Economics
• Law of Net Income

The number one goal of a business is:

• Equality
• Good Working Conditions
• Profit
• Charitable Contributions

This is a chart that lists how much of a good a supplier will offer at different prices:

• Demand Schedule
• Supply Schedule
• Economics Schedule
• Profit Schedule

A supply curve slopes:

• Upward
• Downward
• Vertical
• Not at All

The only thing that causes movement along a supply or demand curve:

• Price
• Quantity
• Climate
• Weather

How much the addition of one more worker will benefit the company

• Issue of marginal returns
• Profit Increase
• Demand schedule
• None of the above

Which of these is not a fixed (constant) cost?

• Rent
• Minimum Wage
• Taxes
• Cost of supplies

Which of the following is not a variable (changing) cost?

• Cost of supplies
• Amount of employees
• Utility Bills
• Taxes to the government

For a business, fixed costs + variable costs =

• Profit
• Revenue
• Total Cost
• Gains