Cambridge OCR GCSE (9-1) · Economics - J205

Supply: Practice Questions

5 multiple-choice questions marked as you go, and 2 written questions with worked solutions. All on Supply.

7 questions10 marksFree, no account

Question 1

1 mark

In economics, what is meant by the term supply?

Question 2

1 mark

A manufacturing company finds it very difficult to increase production quickly when prices rise because it uses highly specialized machinery that takes months to order and install. This firm likely has:

Question 3

1 mark

A firm faces a situation where its supply is price elastic. Which of the following factors is most likely to be the cause of this high elasticity?

Question 4

1 mark

Which of the following would cause a movement along a supply curve rather than a shift of the curve?

Question 5

1 mark

Which of the following factors is most likely to cause the supply curve for organic vegetables to shift to the left?

Question 6

2 marks

Define supply and state the typical relationship between the price of a product and the quantity supplied.

Write your answer out first, then check it against the worked solution.

Question 7

3 marks

Explain the difference between a movement along a supply curve and a shift of the supply curve. Provide two factors that could cause a supply curve for a manufacturer of laptops to shift to the right.

Write your answer out first, then check it against the worked solution.

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