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Supply

Authored by Jennifer McCall

Social Studies

11th Grade

Used 42+ times

Supply
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25 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The willingness and ability of a producer to make a product is referred to as

quantity supplied

quantity demanded

supply

demand

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Movement along a supply curve demonstrates

a change in quantity supplied

a change in quantity demanded

a change in supply

a change in demand

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A shift in a supply curve left or right demonstrates

a change in quantity supplied

a change in quantity demanded

a change in supply

a change in demand

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which way does a supply curve slope?

down
up
both
neither

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

As opposed to movement along the supply curve, a change (shift) in the entire supply curve is a result of ____.

an increase in price

a change in price and availability

a decrease in price

a change in something other than price

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What effect do excise taxes on production usually have on the supply curve?

decreases supply, supply curve shifts left

increases supply, supply curve shifts left

decreases supply, supply curve shifts right

increases supply, supply curve shifts right

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of these do the producers of an item hope to achieve when adopting new technology?

a shift of the supply curve for that item to the left

repeal of the subsidy for that item

inelasticity of supply of that item

a shift of the supply curve for that item to the right

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