A Movement Upward and to the Right Along a Supply

question 10

Multiple Choice

A movement upward and to the right along a supply curve is called a(n)

• A)increase in supply.
• B)decrease in supply.
• C)decrease in quantity supplied.
• D)increase in quantity supplied.

---

Definitions:

External Costs

Costs incurred as a result of an economic activity that are not reflected in the market price, often shouldered by society or the environment.

Unemployment

A situation where individuals who are able and willing to work are not able to find employment.

Efficient Allocations

The optimal distribution of resources among competing uses to achieve the highest overall level of welfare or utility.

Market Failures

Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.