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Law of Supply and Shifts of Supply
By Willetta Jackson
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Last updated about 6 years ago
5 questions
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Question 1
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Question 2
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Question 3
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Question 4
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Question 5
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According to the Law of Supply, as price increases
quantity supplied increases
quantity supplied decreases
supply increases
supply decreases
Kate owns a cupcake shop. The price that she can charge for a bacon maple cupcake falls. According to the Law of Supply, Kate will
increase her quantity supplied.
decrease her quantity supplied.
increase her supply.
decrease her supply.
The image shown above is a model of
an increase in quantity supplied.
a decrease in quantity supplied.
an increase in supply.
a decrease in supply.
Which of the following would increase the supply of chocolate? Select the THREE that apply.
Better technology helps speed chocolate production.
A new chocolate producer enters the market.
The price of chocolate increases.
The government reduces regulations on chocolate producers.
Which of the following is NOT a determinant of the supply curve?
Income
Government Decisions
Expectations of Future Prices
Technology
