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SingaporeEconomicsQuick questions
The Price Mechanism and Its Applications
Quick questions on Supply and the law of supply explained: H2 Economics
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the law of supply?Show answer
Supply here means the quantity producers are willing and able to offer for sale at each price over a period of time.
What is q1?Show answer
State the law of supply. [2 marks]
What is q2?Show answer
Explain how an indirect tax on producers affects the supply curve. [2 marks]
What is q3?Show answer
Explain why improved technology shifts supply rather than moving along the curve. [3 marks]
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