Supply and demand

Supply and demand

Professional Development

10 Qs

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Supply and demand

Supply and demand

Assessment

Quiz

Business

Professional Development

Practice Problem

Hard

Created by

Michael Webster

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a reduction or abolition of an indirect tax affect supply?

Stabilizes supply
Decreases supply
Has no effect on supply
Increases supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do indirect taxes influence supply?

Stabilize supply
Decrease supply
Have no effect on supply
Increase supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What underpins the supply of a business?

Desire to make profit
Market demand
Government regulations
Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does supply reflect in the context of business?

Cost of production
Demand for products
Profit margins
Number of units producers are willing to offer for sale at different prices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What leads to an increase in supply?

Higher production costs
Lower input prices
Introduction of indirect taxes
Technological innovations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a condition that can lead to a reduction in supply?

More efficient use of factors of production
Lower input prices
Introduction of subsidies
Higher wage costs per unit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do changes in costs influence supply?

Stabilize supply
Decrease supply
Have no effect on supply
Increase supply

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