Supply shift
Quiz by Billy Murphy
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20 questions
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- Q1What is a common reason for a rightward shift in the supply curve?An increase in consumer demandImposition of new regulationsA rise in taxesA decrease in production costs30s
- Q2Which of the following would most likely cause a leftward shift in the supply curve?A technological advancementA rise in the number of suppliersA decrease in labor costsAn increase in the price of raw materials30s
- Q3What effect does a government subsidy have on the supply curve?It shifts the supply curve to the rightIt has no effect on the supply curveIt shifts the supply curve to the leftIt causes the supply curve to become vertical30s
- Q4What is a likely outcome of a natural disaster affecting production facilities?An increase in consumer demandNo change in the supply curveA rightward shift in the supply curveA leftward shift in the supply curve30s
- Q5How does a significant increase in the number of producers in a market affect the supply curve?It shifts the supply curve to the leftIt shifts the supply curve to the rightIt has no effect on the supply curveIt causes the supply curve to become perfectly inelastic30s
- Q6What would likely cause a decrease in supply for a product?An increase in number of suppliersAdvancements in production technologyAn increase in production taxesA decrease in raw material prices30s
- Q7What happens to the supply curve when there is an improvement in technology for a product?There is no change in the supply curveThe supply curve becomes verticalThe supply curve shifts to the leftThe supply curve shifts to the right30s
- Q8What is one potential effect of trade tariffs on imported goods on the domestic supply curve?It shifts the domestic supply curve to the leftIt makes the supply curve perfectly elasticIt has no effect on the domestic supply curveIt shifts the domestic supply curve to the right30s
- Q9Which of the following factors would NOT cause a shift in the supply curve?Technological advancementsNumber of suppliers in the marketChange in consumer preferencesChange in input prices30s
- Q10What effect would a price floor have on the supply curve of a product?It shifts the supply curve to the leftIt can lead to a surplus of the productIt shifts the supply curve to the rightIt has no effect on the supply curve30s
- Q11What is likely to cause a supply shift to the right?A rise in taxesA shortage of raw materialsA decrease in production costsAn increase in consumer demand30s
- Q12Which of the following would likely cause a leftward shift in the supply curve?Advancements in technologyA decrease in the number of suppliersGovernment subsidiesAn increase in production costs30s
- Q13What effect does an increase in the number of suppliers have on the supply curve?It shifts the supply curve to the rightIt shifts the supply curve to the leftIt causes the supply curve to become verticalIt has no effect on the supply curve30s
- Q14What is the result of a government-imposed price ceiling on a good?It has no impact on the marketIt shifts the demand curve to the rightIt increases the supply of the goodIt can lead to a shortage of that good30s
- Q15Which of the following factors does NOT typically cause a shift in the supply curve?Input pricesTechnology advancementsNumber of sellersConsumer preferences30s