1. A 1) 2) C 1) 2) E 1) 2) B 1) 2) D 1) 2) F 1) 2) Supply Scenarios Name: _____________________________________

2. G 1) 2) I 1) 2) K 1) 2) H 1) 2) J 1) 2) L 1) 2) Supply Scenarios Name: _____________________________________

3. 1) What would happen to supply if… The factors of production going into a product increase in price or become rare? 2) Think and write of a real life example of this happening.

4. 1) What would happen to supply if… The factors of production going into a product decrease in price or become plentiful? 2) Think and write of a real life example of this happening.

5. 1) What would happen to supply if… Productivity levels increase? 2) Think and write of a real life example of this happening.

6. 1) What would happen to supply if… Productivity levels decrease? 2) Think and write of a real life example of this happening.

7. 1) What would happen to supply if… Technology for production improves and becomes more advanced? 2) Think and write of a real life example of this happening.

8. 1) What would happen to supply if… Technology for production declines and weakens? 2) Think and write of a real life example of this happening.

9. 1) What would happen to supply if… Government regulations restrict a company’s freedom to produce a product? 2) Think and write of a real life example of this happening.

10. 1) What would happen to supply if… Government regulations are loosened and companies are more free to produce a product? 2) Think and write of a real life example of this happening.

11. 1) What would happen to supply if… Taxes on businesses and profits are increased by the government? 2) Think and write of a real life example of this happening.

12. 1) What would happen to supply if… Taxes on businesses and profits are decreased by the government? 2) Think and write of a real life example of this happening.

13. 1) What would happen to supply if… Number of suppliers of a product increases? 2) Think and write of a real life example of this happening.

14. 1) What would happen to supply if… Number of suppliers of a product decreases? 2) Think and write of a real life example of this happening.