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- 1. Multiple ChoiceA decrease in the price of a good willincrease supply.decrease supply.increase quantity supplied.decrease quantity supplied.
- 2. Multiple ChoiceWhich way does a supply curve slope?downupbothneither
- 3. Multiple Choice
Which graph below shows the SUPPLY CURVE?ABCD - 4. Multiple ChoiceThis part of the market determines SUPPLYbuyerssellersconsumersus
- 5. Multiple ChoiceThe diagram represents a(n)increase in supplydecrease in supplychange in quantity suppliednone of the above
- 6. Multiple ChoiceHow many cup holders are producers willing to supply at a price of $2.50?3,0004,0005,0007,000
- 7. Multiple ChoiceThe Law of Supply states:as price increases, supply increasesas prices decrease, supply increases
- 8. Multiple ChoiceHow Many cup holders are producers willing to supply at a price of $3.00?3,0004,0005,0007,000
- 9. Multiple ChoiceWhat happened to a supply curve when supply goes down?moves leftmoves rightsmoves upmoves down
- 10. Multiple ChoiceWhat does this curve represent?supplyequilibriumdemandsurplus
- 11. Multiple ChoiceWhat does this curve represent?demandsupplyequilibriumshortage
- 12. Multiple Choice
When producers offer more of a good as its price increases and less as its price falls, this defines the
law of demand
law of supply
change in demand
change in supply
- 13. Multiple ChoiceThis part of the market determines SUPPLYbuyerssellersconsumersus
- 14. Multiple ChoiceThis part of the market determines DEMANDbuyerssellerssuppliersstore owners
- 15. Multiple Choice
Much of the tea in the U.K. is imported from India. If wages for Indian tea workers rose, thus increasing input costs, how would this effect supply of tea in the U.K.?
Supply would increase
Supply would Decrease
NO change in supply
who knows what would happen.
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