Chapter 5 Lesson 1: What Is Supply?

Chapter 5 Lesson 1: What Is Supply?

9th Grade

7 Qs

quiz-placeholder

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Chapter 5 Lesson 1: What Is Supply?

Chapter 5 Lesson 1: What Is Supply?

Assessment

Quiz

Social Studies

9th Grade

Hard

Created by

Denny Whitlow

Used 1+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The desire and ability to produce and sell a product is

demand

production

profit

supply

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of supply states that

when prices go up, quantity supplied goes down; when prices go down, quantity supplied goes up

when prices go down, quantity supplied goes down; when prices go up, quantity supplied goes up

when prices go up, supply goes down; when prices go down, supply goes up

when prices go down, supply goes down; when prices go up, supply goes up

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A supply schedule is a

table showing how much of a product someone is willing and able to buy

graph showing how much of a product someone is willing and able to buy

table showing how much of a product someone is willing and able to sell

graph showing how much of a product someone is willing and able to sell

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Supply curves are created using the assumption that all economic factors remain constant except

demand

elasticity

price

production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What motivates producers to increase supply?

efficiency

demand

profit

thrift

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price and quantity supplied have a direct relationship because:

as price increases, quantity supplied increases

as price increases, quantity supplied decreases

as price decreases, quantity supplied increases

there is no relationship between price and quantity supplied

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This part of the market determines SUPPLY
buyers
sellers
consumers
us