IB Multiple Choice - Supply

Test yourself on IB Multiple Choice - Supply

• Which of these is the best description of a shift in supply?

• Which of these is a factor that would cause a leftward shift in the supply curve?

• Which of these is NOT a factor that would cause a rightward shift in the supply curve?

• A government subsidy is the opposite of a tax. A subsidy occurs when the government pays a firm directly or reduces the firm’s taxes if the firm carries out certain actions.
  
  What is the most likely effect on a firm that has received a government subsidy?

• The diagram shows three different supply curves.
  
  If input costs fall, what is the most likely effect?