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.

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Definitions:

Comparative Advantage

Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, underpinning international trade theory.

International Trade

The exchange of goods, services, and capital across international borders, driven by the concept of comparative advantage.

Tariff

A tax imposed on imported goods and services to increase their price and reduce competition with domestic products.