Supply Review

The amount of a product available at all possible prices is called

• Quantity supplied

• Supply

The price of coffee beans has recently increased. As a result, what will happen to the supply of iced Frappuccinos at Starbucks?

• Increase

• Decrease

What is being illustrated in the image?

• Decrease in supply

• Increase in supply

The Law of Supply states that when the price of a good INCREASES, quantity supplied (Qs)...

• Increases

• Decreases

Which of the following is NOT one of the determinants of supply?

• Change in number of sellers

• Change in tastes and preferences

• Change in the cost of inputs

• Education

The amount of a product available at a SPECIFIC price is called

• Quantity supplied

• Supply

The letters A, B, C, and D in the image represent

• Supply

• Quantity supplied

The Law of Supply states that when the price of a good DECREASES, quantity supplied (Qs)...

• Increases

• Decreases

A new donut shop called "Dunkin' Kreme" has opened five new locations in the Atlanta area. As a result, what will happen to the supply of donuts?

• Increase

• Decrease

What is being illustrated in the image?

• Decrease in supply

• Increase in supply