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THIRD FORM AGRICULTURE SCIENCE

WEEK THREE-FOUR

INDEPENDENT LEARNING PACKET

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Activity #1 Read the document, and research as much as possible. Then complete the work
that follows on a word document with name, date, class, school and subject. You must
include questions followed by the answer.

Supply
1. Define supply.

2. State factors that affect supply.

3. Draw a supply curve from a supply schedule.

4. State the law of Supply.

5. Explain what causes a change in supply and its effect on a supply curve.

6. Draw a demand and supply curve and identify the point of equilibrium. 

7. What factors are considered by sellers when fixing the price of a commodity?
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8. State two economic factors which affect the willingness of consumers to purchase a
particular product.

9. Explain the term equilibrium.

10. Name the effects of changes in demand and supply.