ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -As the price of a product increases, businesses will produce more of that product if possible. A supply curve and a demand curve are usually parallel.
Detailed explanation-2: -The demand curve shows the quantities of a particular good or service that buyers will be willing and able to purchase at each price during a specified period. The supply curve shows the quantities that sellers will offer for sale at each price during that same period.
Detailed explanation-3: -Answer and Explanation: The correct answer is E: it shows the relationship between product demand and product price.
Detailed explanation-4: -Which of the following is true about a supply curve? It shows the relationship between quantity supplied and income.
Detailed explanation-5: -Which of these is true of both an individual supply curve and a market supply curve? A change in quantity supplied takes place only when there is a change in price.