Supply Lesson 4

Presentation

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Social Studies

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12th Grade

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Practice Problem

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Medium

Levi Haliday

Used 3+ times

FREE Resource

5 Slides • 9 Questions

Unit Elastic Supply-

Multiple Choice

If the price of leather rose dramatically for the boots in Figure 5.15, how might this affect elasticity of supply?

The Supply of boots would stay the same

The Supply of boots would not change very much

The Supply of boots would change very much

there is no relationship between supply and price

Multiple Choice

Is the supply of genuine antique furniture elastic or inelastic?

Elastic

Inelastic

Multiple Choice

What two requirements of supply must someone meet to be considered a producer?

Desire and Ability

Forethought and Strength

Development and Resources

Money and Power

Open Ended

What does it mean to say that quantity supplied and price have a direct relationship?

Type response here

Multiple Choice

What is the relationship of total costs to profit?

There is no relationship

total costs are not that high

profits are the money left over after expenses are subtracted from total cost

Open Ended

How do input costs affect supply?

Type response here

Multiple Choice

How is the price of gasoline related to the price of crude oil?

Gasoline and crude oil are indirectly related

They are not related

Gasoline and crude oil are directly related

Gas and crude oil are inversely related

Open Ended

A city puts a new rule into effect about the kinds of beverages that may be sold in schools. Sugary sodas must be replaced by bottled water, fruit juices, and sports drinks. How will this decision affect the supply of each category of beverage at the schools? What factor that affects supply is demonstrated in this situation?

Type response here

Multiple Select

Was the Super Bowl Halftime show good?

yes

I didn't watch it

Show answer

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