Lesson 2.3.1

2.3.1 Supply, the supply curve and its shifts Quiz: OCR Economics, Unit 2

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

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Lesson 2.3.1, Supply, the supply curve and its shifts: 20 multiple choice questions for the OCR Economics (H460), Unit 2: The role of markets, written with Revision Ninja.

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The 20 questions

  1. What does a market supply curve show the relationship between?

    • Cost and profit
    • Price and quantity
    • Income and output
    • Price and demand

  2. What does the law of supply state happens when market price increases?

    • Quantity supplied decreases
    • Demand increases
    • Quantity supplied increases
    • Demand decreases

  3. What causes a movement along a single supply curve?

    • Higher production costs
    • Business taxation
    • A price change
    • New technology

  4. Which term describes the production of two goods from a single process?

    • Competitive supply
    • Composite supply
    • Derived supply
    • Joint supply

  5. What happens to the supply curve when production costs fall?

    • Moves downward along
    • Shifts to left
    • Shifts to right
    • Moves upward along

  6. What type of tax causes a parallel leftward shift of the supply curve?

    • Ad valorem tax
    • Specific tax
    • Income tax
    • Corporation tax

  7. What type of tax causes a pivotal leftward shift of the supply curve?

    • Capital gains tax
    • Specific tax
    • Ad valorem tax
    • Income tax

  8. How is a market supply curve derived from individual firm supply curves?

    • Average calculation
    • Vertical summation
    • Elasticity multiplication
    • Horizontal summation

  9. A government introduces a unit subsidy on electric cars. What happens to supply?

    • Shifts to right
    • Moves downward along
    • Shifts to left
    • Moves upward along

  10. Bad weather destroys half the UK wheat crop. How does this affect wheat supply?

    • Moves upward along
    • Shifts to left
    • Moves downward along
    • Shifts to right

  11. The market price of coffee rises from £3 to £4. What occurs on supply?

    • Leftward shift
    • Downward movement along
    • Upward movement along
    • Rightward shift

  12. If steel becomes more expensive, what happens to the supply curve for cars?

    • Moves downward along
    • Shifts to right
    • Shifts to left
    • Moves upward along

  13. Farmers switch land from wheat to barley as barley prices rise. Wheat supply experiences what?

    • Rightward shift
    • Upward movement
    • Leftward shift
    • Downward movement

  14. Advanced robotics lower manufacturing assembly time by 30%. How is supply affected?

    • Moves upward along
    • Shifts to right
    • Moves downward along
    • Shifts to left

  15. The market price is £10 and minimum supply price is £6. What is producer surplus?

    • £10 per unit
    • £16 per unit
    • £6 per unit
    • £4 per unit

  16. Production of crude oil increases, leading to more asphalt. What is this supply relationship?

    • Derived demand
    • Joint supply
    • Competitive supply
    • Complementary demand

  17. Why does a standard supply curve slope upwards from left to right?

    • Decreasing marginal costs
    • Constant opportunity costs
    • Increasing marginal costs
    • Falling consumer surplus

  18. Where is producer surplus shown relative to the supply curve?

    • Behind supply curve
    • Above supply curve
    • Below supply curve
    • Along supply curve

  19. If a firm faces marginal cost of £5 for one unit, what minimum price covers it?

    • £5
    • £100
    • £105
    • £0

  20. What impact does an increase in producer surplus have on seller welfare?

    • No impact
    • Increases welfare
    • Decreases welfare
    • Halves welfare

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