SOCSCI 9.QUIZ.006.SUPPLY

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Subject:

• GE 6
• GE 6

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• MWF
• TTH
• SAT

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What is a supply schedule in economics?

• A table showing the quantity supplied at different prices
• A graph showing the demand for a good
• A measure of consumer preferences
• A tool for calculating GDP

What does the supply curve represent?

• The relationship between price and quantity demanded
• The relationship between price and quantity supplied
• Consumer preferences
• Government interventions in markets

According to the law of supply, what happens when the price of a good increases?

• Quantity supplied decreases
• Quantity supplied remains the same
• Quantity supplied increases
• Demand decreases