Y10 Economics - C10 Price Changes

What is one cause of a leftward shift in the supply curve?

• Increase in consumer income

• Favorable weather conditions

• Increase in taxes

• Increase in subsidies

What happens to the equilibrium price when the supply curve shifts to the left?

• It fluctuates

• It increases

• It remains the same

• It decreases

Which of the following factors can shift the demand curve to the right?

• Increase in taxes

• Decrease in advertising

• Mass unemployment

• Higher income

What is the effect of a rightward shift in the supply curve on equilibrium quantity?

• It remains the same

• It decreases

• It fluctuates

• It increases

What can cause a leftward shift in the demand curve?

• Increase in advertising

• Decrease in consumer income

• Favorable weather conditions

• Increase in subsidies

If the demand curve shifts from D1 to D2, what happens to the equilibrium price?

• It decreases

• It remains the same

• It increases

• It fluctuates

What is the result of a supply curve shift to the right?

• Higher equilibrium price and higher quantity

• Lower equilibrium price and higher quantity

• No change in price or quantity

• Higher equilibrium price and lower quantity

Which of the following is NOT a non-price factor affecting supply?

• Consumer preferences

• Innovation

• Taxes

• Weather

What happens to the equilibrium quantity when the demand curve shifts to the left?

• It decreases

• It fluctuates

• It increases

• It remains the same

What is the effect of a sales tax on the supply of a product?

• It increases supply

• It doubles the supply

• It decreases supply

• It has no effect