23
QuizMultiple Choice

The Law of Supply and Demand

Question 23 • 2102320-Economics HONORS - Edgenuity Teacher

A market supply schedule shows

Answer
A
the products of two companies only.
B
the prices and quantity in an entire market.
C
how prices affect a single producer.
D
how prices affect a group of consumers.

Explanation

A market supply schedule lists the quantity of a good that all producers in a market are willing to supply at different prices. It therefore shows the relationship between prices and quantity for the entire market, not just one producer or a group of consumers. The correct choice is “the prices and quantity in an entire market.”

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