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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a supply schedule?
💡 Hint: Think about how we can represent prices and quantities in a table.
Question 2
Easy
Why does the supply curve slope upwards?
💡 Hint: Consider what motivates producers to supply more of a good.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does a supply schedule display?
- Prices of goods
- Variations in quantity supplied
- Both A and B
💡 Hint: Think about what data is included in such a table.
Question 2
True or False: An increase in price always leads to a decrease in the quantity supplied.
- True
- False
💡 Hint: Reflect on the law of supply.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given a supply schedule for a new tech gadget at prices $200, $250, $300, and corresponding quantities 10, 20, 30, analyze what would happen at a price of $150.
💡 Hint: Consider implications of low price on production.
Question 2
You have a supply curve showing that at $400, the quantity supplied is 50 units. If the price rises to $500, what would you expect the new quantity supplied to be and why?
💡 Hint: Reflect on producers' motivations as prices increase.
Challenge and get performance evaluation