16. Our country is often hit by strong typhoons.

Agricultural products
are damaged. What will be its effect to the supply of the
agricultural products?
a. supply will increase c. supply will be delayed
b. supply will decrease D. d. supply will not be affected

17. There are many suppliers in the market combined products being
sold in the market, is called:
a. supply schedule c. market supply
b. supply d. aggregate supply

18. One of the market structures is monopoly. There is only one

supplier in the market for a certain product. Monopolists become
powerful because:
a. they set their own price c. they control the market
b. they gain maximum profit d. all of the above

19. The movement among the supply curve shows the changes in
supply caused by one factor of demand while the other things
remain constant. Which factor affects
a. price c. subsidy
b. cost d. technology

19. An effect of price control is shortage of supply. Which of the

following describes how price adjustment eliminates the shortage
following in the market?
a. The price will fall, quantity demanded increase while the quantity
supplied decreases
b. The price will rise, quantity supplied increases while quantity
demanded decreases
c. The price will rise, quantity supplied decreases while the quantity
demanded increases
d. The price will fall, quantity demanded decreases while the
quantity supplied increases