Podcast
Questions and Answers
What will happen to the supply curve when producers face an additional cost?
What will happen to the supply curve when producers face an additional cost?
- It will become steeper
- It will stay the same
- It will shift to the left (correct)
- It will shift to the right
How do subsidies impact production cost and supply?
How do subsidies impact production cost and supply?
- Increase production cost and shift supply curve to the left
- Decrease production cost and shift supply curve to the right (correct)
- Decrease production cost and shift supply curve to the left
- Increase production cost and shift supply curve to the right
What happens to market supply when there is a decrease in the number of sellers?
What happens to market supply when there is a decrease in the number of sellers?
- It decreases and shifts right
- It increases and shifts left
- It increases and shifts right
- It decreases and shifts left (correct)
How do suppliers react when they expect future prices to rise?
How do suppliers react when they expect future prices to rise?
What effect do natural disasters have on the supply curve?
What effect do natural disasters have on the supply curve?
What is market equilibrium defined as?
What is market equilibrium defined as?
What is likely to happen if there is a surplus in the market?
What is likely to happen if there is a surplus in the market?
How will an increase in production cost affect the market equilibrium?
How will an increase in production cost affect the market equilibrium?
What happens if there is a decrease in supply in the market?
What happens if there is a decrease in supply in the market?
When the supply curve shifts upwards to the left, what is likely to occur in the market?
When the supply curve shifts upwards to the left, what is likely to occur in the market?
How can the government address the problem of prices being unfairly high to buyers?
How can the government address the problem of prices being unfairly high to buyers?
What impact does a decrease in demand have on the equilibrium price and quantity?
What impact does a decrease in demand have on the equilibrium price and quantity?
What will happen to the equilibrium price and quantity when demand decreases?
What will happen to the equilibrium price and quantity when demand decreases?
Which of the following is NOT a determinant of changes in supply?
Which of the following is NOT a determinant of changes in supply?
If there is an increase in supply, what effect does it have on the equilibrium price and quantity?
If there is an increase in supply, what effect does it have on the equilibrium price and quantity?
What happens to the demand curve when there is a decrease in demand?
What happens to the demand curve when there is a decrease in demand?
Which of these factors can cause an increase in supply?
Which of these factors can cause an increase in supply?
What happens to the equilibrium price when supply increases?
What happens to the equilibrium price when supply increases?
