
Chapter 5 supply test
Authored by James Byrd
Social Studies
11th - 12th Grade
Used 26+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a free-enterprise system, the key factor affecting the quantity supplied is?
rate of production.
price.
profits
cost of production.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The relationship between a product’s price and the quantity supplied is?
inverse.
direct.
proportional
complicated.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After producers have paid all their costs, the amount of money remaining is called?
profit
revenue.
depreciation.
overhead.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity of a good or service that producers are willing to supply at various market prices can be listed on a supply?
graph.
schedule.
curve.
line.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If, after the passage of time, the determinants of supply cause an increase in the supply of a product, the supply curve for that product shifts?
downward.
upward.
to the right.
to the left.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a new tax is levied on the producers of widgets, the supply curve for widgets will shift?
downward
upward
to the right.
to the left.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If new pollution controls are imposed on companies that make wrenches, the supply of wrenches will?
increase
decrease.
fluctuate.
stabilize.
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