A Level Supply Quiz 1

15 QuestionsMultiple ChoiceFree Practice

About this quiz

This A Level Supply Quiz 1 quiz contains 15 multiple choice questions designed to help you revise and test your A level Supply Quizzes knowledge. Select an answer for each question and click “Submit Answer” to see instant feedback. Take your time and try to score as high as possible!

Description

This A level Economics quiz takes a good look at what supply is. Made up of 15 questions with each question having four options of which just one and only one is correct, the quiz has been set based on the national curriculum for the gce A level.  

When someone talks about supply, he or she simply means the quantities of a particular commodity or service which a seller is readily willing and able to offer for sale at different prices during a particular point in time. Supply is very closely related to demand in that demand is the direct inverse of supply. 

You can now go straight to the quizzes and start testing your knowledge and better prepare for your gce A level exams. 

Good Luck

Progress0 / 15 answered
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Question 1 of 15

 Supply curve will shift when: 

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Question 2 of 15

 An increase in demand would cause supply curve to: 

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Question 3 of 15

 If elasticity of supply is greater than one. Supply curve will be: 

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Question 4 of 15

 Supply surve: 

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Question 5 of 15

 During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to: 

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Question 6 of 15

 What best explains a shift in market supply curve to the right? 

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Question 7 of 15

 
A vertical supply curve parallel to the price axis implies that the elasticity of supply is: 

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Question 8 of 15

 Which of the following is the first stage in a supply chain for a chocolate bar? 

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Question 9 of 15

 Which of the following is a benefit to a supplier of consistently delivering products on time? 

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Question 10 of 15

 What is the elasticity of supply, when price changes from ` 15 to ` 12 and supply change from 6 units to 5 units? 

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Question 11 of 15

  Expansion in supply refers to a situation when the producers are willing to supply a : 

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Question 12 of 15

 Increase or Decrease in Supply means 

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Question 13 of 15

 If supply curve is Perfectly Inelastic, the supply curve is: 

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Question 14 of 15

 If the supply of a commodity is perfectly elastic, an increase in demand will result in: 

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Question 15 of 15

 When supply price increase in the short run, the profit of the producer _____: