A Decrease in the Number of Sellers in the Market

question 13

Multiple Choice

A decrease in the number of sellers in the market causes

• A)the supply curve to shift to the left.
• B)the supply curve to shift to the right.
• C)a movement up and to the right along a stationary supply curve.
• D)a movement downward and to the left along a stationary supply curve.

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Definitions:

Source Documents

Original records or documents containing important details of a transaction, used as evidence and data for bookkeeping.

Sales Receipts

Documents that provide proof of a transaction between a seller and a buyer, indicating the exchange of goods or services for payment.

Bank Statements

Financial statements issued by a bank detailing the transactions in a depositor's account over a certain period.

Chart of Accounts

A listing of all the accounts in a business's general ledger, which includes assets, liabilities, revenue, expenses, and equity.