Supply Assignment
Presentation
•
Social Studies
•
12th Grade
•
Hard
TIMOTHY BALASA
FREE Resource
7 Slides • 9 Questions
1
2
3
Open Ended
In your own words, explain why suppliers are willing to offer more goods for sale when prices are higher.
4
Multiple Choice
Why is the law of supply considered a direct relationship between price and quantity supplied?
Because as price increases, quantity supplied increases
Because as price increases, quantity supplied decreases
Because as price decreases, quantity supplied stays the same
Because suppliers ignore price changes
5
6
Multiple Choice
Which of the following best describes a supply curve?
A chart listing quantities and prices
A graph illustrating how quantity supplied varies based on price
A table showing demand at different prices
A list of sellers in the market
7
8
Open Ended
Explain how changes in resource prices and taxes can affect the supply curve. Use examples from the slides to support your answer.
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10
Multiple Choice
Which of the following factors can cause the supply curve to shift to the right?
Increase in taxes
Decrease in resource prices
Removal of subsidies
Decrease in number of sellers
11
12
Fill in the Blanks
A change in quantity supplied in response to a change in price is shown as movement along the
Type answer...
13
14
Open Ended
Compare and contrast elastic, inelastic, and unit elastic supply. What do these terms mean in terms of how supply responds to changes in price?
15
Multiple Choice
According to the law of supply, what happens to the quantity supplied when the price of a good increases?
Quantity supplied increases
Quantity supplied decreases
Quantity supplied stays the same
Quantity supplied becomes unpredictable
16
Open Ended
Summarize the law of supply in your own words and explain how it affects the behavior of sellers in a market.
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