Economics CH 5 Test '22-'23

Which of these is NOT an economic factor that changes supply.

The factor that changes the quantity supplied is?

The Supply Curve slopes from low left to high right because?

Surplus of a produced good generally will make the price?

If the supply of all computers increases what happens to the supply curve?

A supplier wants the price to go up if they are to produce additional goods, to cover their additional costs.

A financial payment from the government to effect a certain action is called?

The willingness of a seller to produce and supply goods is the?

Elastic supply is not possible.

When the quantity demand for a good and the quantity price are the same this establishes?

Goods that are being stored for a later sale represent the seller’s?

You are in line for I-phone 20,000. You are the 2001st person and there are only 2000 phones available. What do you do?

A legislated price that is above the equilibrium price is called?

Can a people’s personal choices effect supply?

Inelastic supply is possible?

Limiting imported goods by the government is called establishing?

A numerical chart that illustrates the law of supply is called?

The relationship between the percentage change in quantity supplied & the percentage change in price shows?

The cost advantages companies gain from increasing their output is called?

A legislated price for a good below the equilibrium price is called?

As the price of a good goes up the quantity of the good produced will increase is the?