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Vocabulary Matching

Match the terms and definitions.

Definitions:

  1. Change in amount offered for sale in response to a price change; movement along the supply curve.
  2. A sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
  3. Different amounts offered for sale at each and every possible price in the market; shift of the supply curve.
  4. A prediction by a supplier that may lead to an increase or decrease in supply depending on the anticipated outcome.
  5. Resources such as raw materials, energy, or information that are used in creating desired output.

Terms:

  • Change in supply
  • Input
  • Expectations
  • Change in quantity supplied
  • Subsidy

Answers:

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

    Answer: Change in supply

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

    Answer: Change in quantity supplied

  3. Resources such as raw materials, energy, or information that are used in creating desired output.

    Answer: Input

  4. A sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.

    Answer: Subsidy

  5. A prediction by a supplier that may lead to an increase or decrease in supply depending on the anticipated outcome.

    Answer: Expectations

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