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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is one factor that affects the supply of a commodity?
💡 Hint: Think about how changes in price impact decisions by producers.
Question 2
Easy
Define the term 'supply.'
💡 Hint: Consider the relationship between producers and prices.
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 happens to supply when the price of a commodity increases?
- Supply decreases
- Supply remains constant
- Supply increases
💡 Hint: Remember the direct relationship between price and quantity supplied.
Question 2
True or False: Government subsidies always decrease the supply of goods.
- True
- False
💡 Hint: Think about examples of how subsidies impact producers.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given a scenario where a new tax is introduced on sugar production, analyze its effect on the supply of sugar. What should the producers expect?
💡 Hint: Consider the relationship between costs and supply decisions.
Question 2
A new technology dramatically decreases the cost of producing electric cars. Predict how this will likely affect the market supply. Discuss any potential impacts on consumer prices.
💡 Hint: Think about how technology impacts supply and consequently prices.
Challenge and get performance evaluation