A Decrease in Supply Will Occur When

question 254

Multiple Choice

A decrease in supply will occur when

• A) the supply curve shifts downward to the right.
• B) the supply curve shifts upward to the left.
• C) the demand curve shifts downward to the left.
• D) the demand curve shifts upward to the right.

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Definitions:

Journal Entry

A record in accounting that represents the debit and credit sides of a transaction, reflecting changes in account balances.

Invoice

A document issued by a seller to a buyer that lists goods or services provided, their prices, and the total amount owed.

Prepaid Services

Expenses paid in advance for services which are to be received in the future.

Unearned Fees

Income received by a business for services not yet performed or goods not yet delivered.