Chapter 5 - Supply
Authored by Jordon Goodwin
Social Studies
10th Grade
Used 7+ times
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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
amount of a product offered for sale at all possible prices in a market
supply
breaking-even point
diminishing marginal return
fixed costs
long run
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
shows quantities offered at various prices by all firms that sell a product in a given market
market supply
breaking-even point
diminishing marginal return
fixed costs
long run
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
production period so brief that only variable inputs (labor) can be changed
short run
breaking-even point
diminishing marginal return
fixed costs
long run
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
production period length enough to change amount of all inputs used in production.
long run
breaking-even point
diminishing marginal return
fixed costs
market supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
stage of production at which output increases at a decreasing rate
diminishing marginal return
breaking-even point
fixed costs
long run
market supply
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
production expenses that do not change when output changes
fixed costs
breaking-even point
diminishing marginal return
long run
market supply
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
production expenses that change as output changes, such as labor or raw materials
variable cost
breaking-even point
diminishing marginal return
fixed costs
long run
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