What happens to the quantity produced as the price of a good increases, according to the law of supply?

Supply and Market Dynamics

Interactive Video
•
Business, Economics
•
9th - 12th Grade
•
Hard

Liam Anderson
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity produced remains the same.
The quantity produced decreases.
The quantity produced fluctuates randomly.
The quantity produced increases.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does an increase in the price of inputs affect the supply curve?
The supply curve shifts to the right.
The supply curve shifts to the left.
The supply curve remains unchanged.
The supply curve becomes vertical.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of inputs decreases, what is the likely effect on the supply of a product?
Supply becomes unpredictable.
Supply increases.
Supply remains constant.
Supply decreases.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the price of a substitute good in production increases, what happens to the supply of the original good?
Supply of the original good increases.
Supply of the original good becomes erratic.
Supply of the original good remains the same.
Supply of the original good decreases.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect on aggregate supply if the number of suppliers increases?
Aggregate supply decreases.
Aggregate supply becomes unstable.
Aggregate supply remains unchanged.
Aggregate supply increases.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do technological improvements generally affect supply?
They decrease supply.
They make supply unpredictable.
They have no effect on supply.
They increase supply.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact on current supply if future prices are expected to rise significantly?
Current supply becomes volatile.
Current supply decreases.
Current supply remains the same.
Current supply increases.
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