Economics Ch. 5 Sec. 1 Quiz
Economics Supply Quiz
Test your understanding of the concepts related to supply in economics with this engaging quiz! Ideal for students, teachers, and anyone interested in strengthening their knowledge of economic principles.
- 5 multiple choice questions
- Instant feedback on your answers
- Track your progress and knowledge improvement
The quantity available
Demand
Law of Demand
Supply
Law of Supply
The law of supply says that as prices go up, suppliers increase the quantity supplied and that as prices go down, suppliers decrease the quantity supplied.
True
False
A supply schedule is a table that shows the amount suppliers will supply at different prices.
True
False
Why are suppliers willing to increase the quantity supplied as prices go up?
Their profits go down.
Their profits go up.
Their costs go down.
Their costs go up.
Elastic supply means that changes in price causes
A significant change in quantity supplied.
An insignificant change in quantity supplied.
An insignificant change in quantity demanded.
A significant change in quantity demanded.
{"name":"Economics Ch. 5 Sec. 1 Quiz", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your understanding of the concepts related to supply in economics with this engaging quiz! Ideal for students, teachers, and anyone interested in strengthening their knowledge of economic principles.5 multiple choice questionsInstant feedback on your answersTrack your progress and knowledge improvement","img":"https:/images/course1.png"}
More Quizzes
Elasticity quiz
10570
Economics - 2
6319
Understanding Demand and Supply
15822
Intro to Econ C4
10554
Section 3: Introduction to Supply and Demand
8416
Econ Midterm 1-5
1005021
MC quiz for Economics Issues
9424
Economics Chapter 4
241219
Consumer Economics Quiz
1059
Economics revision
11638
Economics Knowledge Quiz
1246228
1-2 თავის ტესტები
1050