Other Things Constant, Which of the Following Would Shift the Supply

question 183

Multiple Choice

Other things constant, which of the following would shift the supply curve of a good to the left?

• A) an increase in the price of that good
• B) a decrease in the price of an alternative good
• C) an improvement in technology used in producing the good
• D) an increase in the cost of an important resource used to produce the good
• E) an increase in the number of producers of the good

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Definitions:

Negotiable Instruments

Financial documents promising payment to the holder, such as checks, bills of exchange, and promissory notes.

Referral Selling

A type of sales practice in which the purchaser supplies a seller with a list of friends or acquaintances and receives a benefit when sales are made to those people.

Purchaser Supplies

Materials or goods procured by the buyer directly for use in a service or production process.

Benefit

An advantage, privilege, or financial aid that is granted to an individual or group, often from an employer, government, or institution.