Supply Test Review 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. What does the word RATNEST stand for in Supply? What is the different between Quantity Supplied and Supply? How does Price affect QS? Does a price change affect Supply? If the price of a product increases how must the producer react? What is the opportunity cost to the producer if they do not increase QS after a price increase? In Supply if there is a price change what kind of relationship is there? Direct or inverse What is the intersection point on Supply and Demand graph called? On the Supply graph which way does curve shift if there is a decrease in Supply? What is considered the “Bread and Butter of Economics?