5.1

Question 1

schedule of quantities offered for sale at all possible prices in a market

Answer 1

supply

Question 2

rule stating that more will be offered for sale at high prices than at lower prices

Answer 2

law of supply

Question 3

tabular (columns/tables) listing showing the quantities produced or offered for sale at each & every possible price in the market

Answer 3

supply schedule

Question 4

graphical representation of the quantities produced at each & every possible price in the market

Answer 4

supply curve

Question 5

supply curve that shows the quantities offered at various prices by all firms that sell the product in a given market

Answer 5

market supply curve

Question 6

amount offered for sale at a given price; point on the supply curve

Answer 6

quantity supplied

Question 7

change in amount offered for sale in response to a price change; movement along the supply curve

Answer 7

change in quantity supplied

Question 8

different amounts offered for sale at each and every possible price in the market; shift of the supply curve

Answer 8

change in supply

Question 9

government payment to encourage or protect a certain economic activity

Answer 9

subsidy

Question 10

responsiveness of quantity supplied to a change in price

Answer 10

supply elasticity