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The Supply Curve in Microeconomics

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

_____ refers to the various quantities offered for sale at various prices.

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1. _____ refers to a specific quantity offered for sale at a specific price.

2. Bob sees a tablet for sale at the electronics store that he has seen before, but now the price is higher. According to the law of supply, what will happen, assuming all other factors are held constant?

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About This Quiz & Worksheet

This quiz/worksheet combo will check your knowledge of a supply curve in microeconomics and its movement in a graph.

Quiz & Worksheet Goals

In these assessments, you can test yourself on:

  • What causes a movement along a supply curve
  • The term used to describe various quantities offered for sale at various prices
  • What a the direction of a slope indicates about supply

Skills Practiced

  • Information recall - access the knowledge you've gained regarding what movement in the supply curve is caused by
  • Knowledge application - use your knowledge to answer questions about the terminology used in describing various quantities offered for sale at various prices
  • Interpreting information - verify you can read information regarding the direction of slope and its relationship with supply and interpret it correctly

Additional Learning

To further your understanding of a supply curve in microeconomics review the lesson called The Supply Curve in Microeconomics. These are some subjects discussed in the lesson:

  • Examples to help you understand the supply curve
  • The parts of a supply curve graph
  • How movement in a supply curve is different from shifting
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