Market Supply Is Obtained by

question 268

Multiple Choice

Market supply is obtained by

• A) summing the amount demanded by individual consumers at various prices.
• B) summing the amount supplied by individual producers at various prices.
• C) the law of supply.
• D) observing how the supply curve shifts.

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Definitions:

Lend Lease Program

A program initiated by the United States during World War II that allowed the U.S. to provide its allies with food, oil, and material without immediate payment in order to help defeat the Axis powers.

Battle of Britain

A major World War II air campaign fought primarily between the Royal Air Force of Great Britain and the Luftwaffe of Nazi Germany in 1940.

Soviet Union

A federal socialist state in Eurasia that existed from 1922 to 1991, officially known as the Union of Soviet Socialist Republics (USSR).

French Indochina

A colonial territory of France in Southeast Asia from the late 19th century to 1954, comprising modern-day Vietnam, Laos, and Cambodia.