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Understanding supply Flashcards | StudBud

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Understanding supply

10 terms·StudBud Administration·71 plays

#econmics #supply

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Questions 10

Answers

1
Which is an example of Quantity Supplied?
$2 Burger
Five $2 Burgers
Five Burgers
10 Buns, 5 Patties, 5 Pieces of lettuce and 5oz of Onions
2
Direct Relationship of Supply
If P ↓ then Q↑
If P ↑ then Q↓
If P ↓ then Q↓
If P ↑ then Q↑
3
Law of Supply
A law that states you can not sell so much of a supply
Definition of supply
As price goes up, supply goes up. Vice Versa
Supply must be made of resources
4
Quantity supplied
Amount of good produced and offered for sale at a set price
Numerical order of products
Inventory of a product
End result of resources used
5
Which of these people exhibit supply?
Lumberjack making pancakes
Construction worker paint portraits
hunter teaching economics
Pastry chef making cupcakes
6
Supply curve
Conner of Quantity supplied
Line that slopes upward showing the product that can be made
Resources shown in a graph as a curve
Curved line of Quantity Supplied
7
Mid-Pacific Supplies:
All of the Above
Teachers
Technology
Education
8
What is supply
Shipment
Willingness/ability of supplier to distibute a good
skill/competitiveness of individuals to create inventions
Resources
9
Complete the phrase: Supply and______
Remand
Depression
Demand
Demeanor
10
Demand is in direct correlation with
Supply Curve
Law of supply
Supply
Resources