12th Grade Law Of Supply Quizzes, Questions & Answers

12th Grade

Top Trending Law Of Supply Quizzes

Economics Supply Fundamentals Quiz: Chapter 5 Section 1

Enhance your understanding of Supply Economics with our focused quiz. It assesses key concepts from Chapter 5 Section 1, ideal for students preparing for advanced placements or international baccalaureate economics exams.

Questions: 10 | Attempts: 22 | Last updated: Aug 4, 2025

Sample Question 1
What is supply?

The amount of a product that could be bought at all possible prices that could prevail in the market

The quantity of a product available for sale in the market.

The demand for a product in the market.

The price at which a product is sold in the market.

Sample Question 2
What does 'quantity supplied' refer to in economics?

The total number of products available in the market.

The production costs incurred by producers to bring products to the market.

The amount of products consumers are willing to buy.

Amount that producers bring to the market at any given price

Sample Question 3
What is a supply curve?

A chart displaying the production possibilities frontier for a company.

A graph showing the demand for a product at various prices.

A visual representation of the consumer surplus in a market.

A graph showing the various quantities supplied at each and every price that might prevail in the market

Recent Law Of Supply Quizzes

How well do you know The Law Of Supply?

Do you understand the law of supply well? With this law of supply quiz, you can see how updated your knowledge is. The law of supply is about the fundamental principle of economic theory. It states there is a direct relationship...

Questions: 10 | Attempts: 128 | Last updated: Oct 16, 2025

Sample Question
What does the 'Law of Supply' state?

As price increases, supply increases.

As prices decrease, supply increases.

As price increases, quantity demanded decreases.

As price decreases, quantity demanded decreases.