Supply

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

• quantity supplied

• quantity demanded

• supply

• demand

Movement along a supply curve demonstrates

• a change in quantity supplied

• a change in quantity demanded

• a change in supply

• a change in demand

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

Which way does a supply curve slope?

• down
• up
• both
• neither

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

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

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

The diagram represents a(n)

• increase in supply
• decrease in supply
• change in quantity supplied
• none of the above

This image represents a(n):

• supply schedule

• demand schedule

• demand curve

• supply curve

According to the law of supply, the relationship between price and quantity supplied is:

• Direct

• Inverse

• Not correlated