The Supply Curve Will Shift to the Left When

question 119

Multiple Choice

The supply curve will shift to the left when

• A) the supply of the product increases.
• B) the demand for the product decreases.
• C) some producers leave the industry.
• D) the product becomes fashionable.

---

Definitions:

Rent Revenue

Earnings from property that is leased to others for use.

Revenue Accounts

Accounts that track the income earned from a company's primary operations and other activities.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts.

Accounting Period

The span of time at the end of which a company calculates its financial performance, typically a quarter or year.