Economics: Supply

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  • 1/5 Questions

    It can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph. Whay is it?

    • Demand
    • Supply
    • Aggregate Supply
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Economics: Supply - Quiz
About This Quiz

This short quiz serves as a test if you really understand the topic cause the answers in each question will be found in this chapter.

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  • 2. 
       A sudden surprise event that increases or decreases output temporarily.                 When output is increased (decreased), the price of the good decreases (increases) due to a shift in the supply curve to the right (left). The above diagram demonstrates an increase in price due to a decrease in the supply of a good relative to demand. Examples of ______________ include unusually bad (good) weather which reduces (increases) the supply of a commodity such as wheat. - ProProfs

       A sudden surprise event that increases or decreases output temporarily.                 When output is increased (decreased), the price of the good decreases (increases) due to a shift in the supply curve to the right (left). The above diagram demonstrates an increase in price due to a decrease in the supply of a good relative to demand. Examples of ______________ include unusually bad (good) weather which reduces (increases) the supply of a commodity such as wheat.

    • Visible Supply

    • Supply Chain

    • Supply Shock

    • Aggregate Supply

    Correct Answer
    A. Supply Shock
  • 3. 

    This include every company that comes into contact with a particular product. For example, the __________ for most products will encompass all the companies manufacturing parts for the product, assembling it, delivering it and selling it.

    • Visible Supply

    • Supply Chain

    • Supply Shock

    • Aggregate Supply

    Correct Answer
    A. Supply Chain
  • 4. 

    The deliverable commodities in licensed warehouses and approved delivery facilities.  The ________________ of commodities generally includes afloat and insight commodities within production areas. This supply is important as it identifies a definite quantity of commodities available for purchase or delivery upon futures contracts.

    • Visible Supply

    • Supply Chain

    • Supply Shock

    • Aggregate Supply

    Correct Answer
    A. Visible Supply
  • 5. 

      This is the total supply of goods and services produced within an economy at a given overall price level in a given time period.

    • Visible Supply

    • Supply Chain

    • Supply Shock

    • Aggregate Supply

    Correct Answer
    A. Aggregate Supply

Quiz Review Timeline (Updated): Dec 13, 2012 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Dec 13, 2012
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 03, 2008
    Quiz Created by
    Kristine
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