Supply and Factors Quiz

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is an example of a supply curve shifter?

  • Increase in the number of buyers
  • Expectation of future price rise
  • Increase in the price of the good
  • Fall in input prices (correct)

According to the law of supply, what happens to the quantity supplied when the price of a good rises?

  • Quantity supplied fluctuates
  • Quantity supplied decreases
  • Quantity supplied remains the same
  • Quantity supplied increases (correct)

What is the effect of a cost-saving technological improvement on the supply curve?

  • Shifts the supply curve to the left
  • Causes the supply curve to fluctuate
  • Shifts the supply curve to the right (correct)
  • Does not affect the supply curve

Flashcards are hidden until you start studying

More Like This

Economics Supply Factors Quiz
5 questions
External Economic Factors Quiz
10 questions
Labor Supply Factors Quiz
5 questions

Labor Supply Factors Quiz

ProactiveBouzouki avatar
ProactiveBouzouki
Use Quizgecko on...
Browser
Browser