A Change in Quantity Supplied

question 100

Multiple Choice

A change in quantity supplied

• A) is represented by a shift in the supply curve.
• B) is represented by a movement along the supply curve.
• C) happens only when the price increases.
• D) happens only when the price decreases.
• E) is positive if the price of the good decreases.

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Definitions:

Bushel

A measure of volume that is used primarily in agriculture, equal to about 35.24 liters in the USA.

Absolute Advantage

The ability of an entity to produce a good or offer a service at a lower cost per unit, using fewer resources, than competitors or another entity.

Specialization And Trade

The practice where individuals or entities focus on the production of specific goods or services to trade for other goods or services rather than producing everything they need by themselves.

Terms Of Trade

The ratio of an index of a country's export prices to an index of its import prices.