Supply Word Scramble
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| Question | Answer |
| Define supply | The quantity of a good that firms are willing to make available at various prices over a period of time |
| What is individual supply? | The quantity of a good that a firm will supply at individual prices |
| What is market supply? | The quantity of a good supplied by all firms in the market at different prices |
| What is a supply schedule? | A table showing the different quantities of a good that firms will make available at various prices |
| What is a supply curve? | A graph illustrating the number of units of a good made available at various prices at any given time |
| What causes movement along a supply curve? | Change in the price of a good |
| What causes a shift in the supply curve? | A change in any non-price determinant of supply |
| Name 8 factors affecting supply | Its price. Price of related goods. Stat of technology. Unplanned factors. Rate of taxation. Objectives of the firm. Number of sellers in the industry. Cost of production. |
Created by:
JackEatonK98
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