The supply of a good refers to:

Related MCQs

• If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:
• If all other factors remain equal, the higher the price of a good, the fewer people will demand that good means what?
• Quantity of a certain goods producers are willing to supply when receiving a certain price is known as ______.
• Producers supply more at a higher price because selling more quantity at higher price increase revenue means what?
• _______ is an economic good that acts as a medium of exchange in transaction.
• Demand for a commodity refers to:
• _______ refers to a market with a single seller.