Understanding the Supply Curve
This worksheet helps grade 9 students understand the concept of the supply curve, its determinants, and how it relates to economic principles.
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Understanding the Supply Curve
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Read each question carefully and provide your best answer based on your understanding of economic principles related to the supply curve.
1. Which of the following best describes the Law of Supply?
As price increases, quantity demanded increases.
As price decreases, quantity supplied increases.
As price increases, quantity supplied increases.
As price decreases, quantity demanded decreases.
2. A shift to the right of the supply curve indicates:
A decrease in supply.
An increase in supply.
A movement along the supply curve.
A change in quantity supplied.
3. The relationship between price and quantity supplied is typically .
4. An improvement in technology generally leads to an in supply.
5. If the cost of production increases, the supply curve will shift to the .
6. A subsidy from the government will cause the supply curve to shift to the left.
True
False
7. The supply curve is typically upward-sloping.
True
False
8. Differentiate between a change in quantity supplied and a change in supply.
9. List three factors that can cause a shift in the supply curve.