Shifts in Supply: Grade 11 Economics
This worksheet covers key concepts related to shifts in supply, including determinants of supply, factors causing shifts, and their impact on market equilibrium.
Includes
Standards
Topics
Shifts in Supply: Grade 11 Economics
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability. For multiple-choice questions, select the best answer. For short-answer questions, provide concise and accurate responses.
1. Which of the following would most likely cause an increase in the supply of smartphones?
An increase in the price of raw materials for smartphones.
A decrease in the number of smartphone manufacturers.
A technological advancement that lowers production costs.
An increase in consumer demand for smartphones.
2. A decrease in the supply of a product, with no change in demand, will typically lead to:
A decrease in equilibrium price and an increase in equilibrium quantity.
An increase in equilibrium price and a decrease in equilibrium quantity.
Both equilibrium price and quantity remaining unchanged.
An increase in both equilibrium price and quantity.
3. A shift to the right in the supply curve indicates an in supply.
4. Subsidies provided by the government to producers typically lead to an in supply.
5. The expectation of future price increases by producers might lead to a in current supply.
6. Explain the difference between a 'change in quantity supplied' and a 'change in supply.'
7. Identify and briefly explain two factors, other than technology, that can cause a shift in the supply curve.
8. An increase in the number of sellers in a market will cause the supply curve to shift to the left.
True
False
9. A per-unit tax imposed on producers will cause the supply curve to shift to the right.
True
False
Related Worksheets
Demand and Price Elasticity Worksheet
Explore the concepts of demand, supply, and price elasticity with this comprehensive Grade 11 economics worksheet.
Factors of Production Worksheet
An 11th-grade social studies worksheet focusing on the four factors of production: land, labor, capital, and entrepreneurship.
Understanding Asset Division
A worksheet for Grade 11 Social Studies students to understand the principles and processes of asset division in various contexts.
Understanding Bankruptcy
This worksheet explores the concept of bankruptcy, its types, causes, and consequences for individuals and businesses, aligning with Grade 11 Social Studies economics curriculum.
Achieving Your Financial Goals
A Grade 11 Social Studies worksheet focusing on understanding and setting personal financial goals, budgeting, and planning for the future.
Understanding Debt-to-Income Ratio
A Grade 11 Social Studies worksheet exploring the concept of Debt-to-Income Ratio, its calculation, importance, and implications for financial health.
Grade 11 Economics: Understanding the Economy
This worksheet covers fundamental concepts of economics for Grade 11 students, including economic systems, supply and demand, and economic indicators.
Checking Account Management Worksheet
A worksheet for 11th-grade students covering essential aspects of checking account management, including deposits, withdrawals, reconciliation, and common fees.