AP®︎ Macroeconomics: Topic 1.5 Practice Test
Prepare for your quiz, test, or the AP exam with focused practice questions on Topic 1.5 of AP Macroeconomics – Supply.
Questions List
Topic 1.5
Question 1 Easy
This question tests the following: MKT-2.C
What is supply in economics?
What You’re Being Tested On:
Explore the learning objectives taken directly from the College Board’s AP® Macroeconomics Curriculum. Ensure you’re prepared for the exact topics covered on the AP® exam, in-class tests, and quizzes, and gain confidence in your mastery of the material.
Topic 1.5: Supply
Learning Objective: MKT-2.C
a. Define (using graphs as appropriate) the law of supply. b. Explain (using graphs as appropriate) the relationship between the price of a good or service and the quantity supplied.
Essential Knowledge: MKT-2.C.1
The law of supply states there is a positive relationship between price and quantity supplied, leading to an upward-sloping supply curve.
Learning Objective: MKT-2.D
Explain (using graphs as appropriate) the determinants of supply.
Essential Knowledge: MKT-2.D.1
Factors that influence producer supply, such as changes in input prices, cause the market supply curve to shift.
