Supply

AS Level. This should help people with their revision on supply. This includes the Supply Curve.

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1. Why is the Supply Curve upwards sloping?

  • There is a greater incentive to supply more at higher prices.
  • There is a greater incentive to supply less at higher prices.
  • There is a lower incentive to supply more at higher prices.
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Other questions in this quiz

2. Market supply is...

  • The combined quantity that all producers are willing to sell at any price.
  • Where buyers and sellers come together to dicuss an agreed price for a product, which is then sold to the buyer.

3. What causes shifts in supply?

  • All of the above
  • Alternative Industries
  • New technology
  • Improved efficiency
  • Law change

4. On the supply curve graph; where does the price and quantity go?

  • Price is on the Y axis; Quantity is on the X axis
  • Price is on the X axis; Quantity is on the Y axis

5. A shift left on the supply curve shows...

  • a decrease in supply.
  • a increase in supply.

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