Podcast
Questions and Answers
What happens to the quantity supplied when the price falls?
What happens to the quantity supplied when the price falls?
- It rises
- It fluctuates
- It falls (correct)
- It remains constant
Why do producers offer more for sale at higher prices according to the Law of Supply?
Why do producers offer more for sale at higher prices according to the Law of Supply?
- To reduce profits
- To increase costs
- To maximize profits (correct)
- To maximize losses
What is the main reason for the upward slope of the supply curve?
What is the main reason for the upward slope of the supply curve?
- Government regulations
- Technological advancements
- Costs and profit (correct)
- Price changes in related products
How do businesses aim to operate when providing goods and services?
How do businesses aim to operate when providing goods and services?
What are some determinants of supply according to the text?
What are some determinants of supply according to the text?
How do subsidies typically impact the supply of a good or service?
How do subsidies typically impact the supply of a good or service?
What factors can cause a shift in the supply curve?
What factors can cause a shift in the supply curve?
How do subsidies affect production?
How do subsidies affect production?
Why does the supply curve slope upward?
Why does the supply curve slope upward?
How do improvements in technology impact the supply curve?
How do improvements in technology impact the supply curve?
What is one of the determinants of supply mentioned in the text?
What is one of the determinants of supply mentioned in the text?
How does an increase in the number of sellers affect the market supply?
How does an increase in the number of sellers affect the market supply?
What leads to a change in supply, resulting in a shift of the curve?
What leads to a change in supply, resulting in a shift of the curve?
What happens when there is a decrease in supply?
What happens when there is a decrease in supply?
Why does the supply curve slope upwards?
Why does the supply curve slope upwards?
What is market supply?
What is market supply?
How do subsidies affect the supply curve?
How do subsidies affect the supply curve?
What causes an increase in supply?
What causes an increase in supply?
