PU COM 2026 Supply Free Quiz 1

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PU COM 2026 Supply Free Quiz 1

PU COM Quiz

10:00

Answered: 0 / 10

Remaining: 10

Navigator 10 Q

General

General 10 MCQs

1. What does the law of supply state?

A. Price and supply move in opposite directions B. Price and quantity supplied move in the same direction C. Supply is always constant D. Price has no effect on supply

2. What is a supply schedule?

A. A table showing quantity supplied at different prices B. A graph showing supply C. A law of supply D. A theory of production

3. What is a supply curve?

A. A table of supply B. A law of supply C. A type of demand D. A graphical representation

4. What does elasticity of supply measure?

A. Total supply B. Price of goods C. Responsiveness to price change D. Demand for goods

5. How is price elasticity of supply calculated?

A. % Change in price ÷ % Change in quantity supplied B. % Change in quantity supplied ÷ % Change in price C. Change in price × Change in supply D. Total supply ÷ Total price

6. What factors affect supply?

A. Technology, input prices, number of producers B. Only technology C. Only input prices D. Only number of producers

7. What is inelastic supply?

A. Supply changes equally with price B. Supply is perfectly elastic C. Supply is infinitely elastic D. Quantity supplied does not change much with price

8. When does market equilibrium occur?

A. Quantity demanded exceeds quantity supplied B. Quantity supplied exceeds quantity demanded C. Quantity demanded equals quantity supplied D. Price is zero

9. What happens to the supply curve when supply increases?

A. To the left B. To the right C. Upward D. Downward

10. What happens to the supply curve when supply decreases?

A. To the left B. To the right C. Upward D. Downward

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