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by BlastRoom
Practice distinguishing supply shifts from movements along a supply curve.
#us_hs_economics
25 questions
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The price of strawberries falls from $4 to $3 per pound. Growers offer fewer strawberries for sale. What occurred?
A bakery raises the price of each loaf of bread it sells, while flour costs and production methods stay unchanged. What happens to its supply curve?
Demand for a product rises, and its market price climbs from $5 to $7. Producers' costs and technology do not change. How do producers respond?
A new $2 excise tax is imposed on each package produced by a candy manufacturer. What is the most likely market effect?
A state begins paying solar-panel installers a subsidy for every panel installed. What happens to the supply of installations?
Demand for a good falls, and its price drops from $6 to $4. Producers' costs and technology do not change. Which statement about supply is correct?
A city repeals a fee that manufacturers had paid on every bicycle they produced. What happens in the bicycle market?
The price of aluminum used in cans rises sharply while the price of canned drinks is unchanged. What happens to the supply curve for canned drinks?
A furniture factory installs machines that double the number of table legs each worker can make per hour. What happens to its supply curve?
Hourly wages for workers at a T-shirt factory rise, with all other production conditions unchanged. How does the factory's supply change?
A tax credit lowers the production cost of a product. Which curve in the diagram represents supply after the credit?
A government ends a subsidy that had been paid to wheat farmers for each bushel produced. What is the likely effect on wheat supply?
The price of lumber falls for homebuilders, while house prices are unchanged. What happens to the supply of newly built houses?
A software upgrade lets a print shop produce twice as many posters per hour using the same staff and ink. How should this change be shown on a supply diagram?
A per-unit tax on vaping products rises. What is the most likely change in supply?
Fertilizer becomes more expensive for corn farmers while the price of corn is unchanged. Which determinant of supply changed?
A bottling company adopts an automated system that fills and seals bottles faster with the same workforce. Which determinant of supply changed?
A state charges producers 50 cents for every bottle of soda they manufacture. Which determinant of supply is directly affected?
The federal government pays dairy farmers $1 for each gallon of milk they sell. Which determinant of supply changed?
A restaurant replaces its old ovens with energy-efficient ovens that cook more meals per hour. Which supply determinant best explains the change?
A grant that had reduced the cost of producing electric buses expires. Which determinant of supply changed?
Which event could have caused the shift from S1 to S2 in the diagram?
Which event most likely caused the shift from S1 to S2 in the diagram?
What event best explains the shift from S1 to S2 in the diagram?
Which policy change could produce the shift from S1 to S2 in the diagram?
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Market Equilibrium: Where the Curves Cross
25 questions
