How is the law of supply different than the law of demand?

it is the opposite of the law of demand

measure of the way quantity supplied reacts to a change in price.

market supply schedule

a chart that lists how much of a good or service all suppliers will offer

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supply

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Questions 20

Answers

1
a graph of the quantity supplied of a good by a firm at different prices is known as a
variables
market supply schedule
supply schedule
supply curve
2
A supply curve
tells how much demand there is for a product
slopes parallel along the axis
slopes upward from left to right.
slope from downward from left to right s
3
Market supply curve
Table of quantities supplied by all firms at various prices
Graph of quantities supplied at all possible prices
Graph of quantities supplied by all firms at various prices
Curve describing supply offered to all in a target market
4
How is the law of supply different than the law of demand?
It depends on when it is applied.
it is the opposite of the law of demand
It is the supreme law of the land
It is the same as the law of demand
5
A measure of the way quantity supplied reacts to change in price?
Supply Schedule
Elasticity of Supply
Law of supply
Quantity supplied
6
How does price become more elastic with supply?
In the short run
In the long run
ignoring the negative
It can not.
7
What drives a supplier's decision to produce more or less of a product?
Revenues
Demand
Inflation
Scaricity
8
What is this?
Supply Curve
Demand Schedule
Supply Schedule
Demand Curve
9
a graph of the quantity supplied of a good by all suppliers at different prices
market supply curve
supply schedule
quantity supplied
marginal cost
10
If supply is inelastic, how will supply react to a small increase in price?
Not much < 1
a lot >1
No change at all = 1
11
A chart that lists how much of a good all suppliers will offer at different prices is called
a supply schedule
the law of supply
a market supply schedule
a supply curve
12
Tendency of suppliers to offer more of a good at a higher price is known as
Law of Supply
Supply Curve
Supply Schedule
Elasticity of Supply
13
The amount of goods available is knows as
demand
economics
capital
supply
14
Who do profits appeal to?
Customers
Investors
government
Suppliers
15
The amount of a supplier is willing and able to supply at a certain price is known as
Elasticity of Supply
Law of Supply
Quantity Supplied
Supply Schedule
16
What are the two variables represented in a supply schedule or supply curve?
price of demand and price of supply
price and quantity supplied
quantity demanded & quality supplied
Price and quantity demanded
17
What does the law of supply say about prices rising?
None of the above
Supply will decrease
Supply will stay the same
Supply will increase
18
elasticity of supply
chart that lists how much of a good a supplier will offer at dif prices
government payment that supports a business or market
amount a supplier is willing and able to supply at a certain price
measure of the way quantity supplied reacts to a change in price.
19
A chart that lists how much of a good a supplier will offer at different prices is known as
Supply Schedule
Marginal Product of Labor
Increasing Marginal Returns
Supply Curve
20
market supply schedule
a measure of the way quantity supplied reacts to a change in price
a chart that lists how much of a good or service all suppliers will offer
a graph of the quantity supplied of a good or service at various prices
the change in output that results from hiring one additional unit of labor

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