NAME: ________________________

Question Types


Start With


Question Limit

of 17 available terms

Upgrade to
remove ads

6 Written Questions

6 Multiple Choice Questions

  1. Government payments that support a business or market.
  2. A plotted supply schedule. It will always rise from left to right, showing that higher prices will create higher output.
  3. The amount of goods available.
  4. The extra cost of producing on more unit of a product.
  5. Taxes on the production and sale of specific goods.
  6. Measures how firms will respond to changes in the price of a good.

5 True/False Questions

  1. Total CostThe sum of fixed and variable costs.

          

  2. Law of SupplyProducers will offer more goods as prices rise and less as prices fall.

          

  3. Fixed CostEven if output is idle and does not change no matter how much of a good is produced.

          

  4. To make profit.What is the goal of a business?

          

  5. Quantity SuppliedProducers will offer more goods as prices rise and less as prices fall.

          

Create Set