A supply schedule shows 20 units at £4, 35 units at £6 and 50 units at £8. Which statement correctly describes the curve drawn from these data?
It slopes downwards because price and quantity supplied move in opposite directions
It is vertical because each price changes by £2
It slopes upwards, with price on the vertical axis and quantity on the horizontal axis
It shifts right as each point is plotted
81 exam-style questions on OCR GCSE Economics 2.3 Supply, covering 2.3.1 What is supply, 2.3.2 Draw a supply curve using data, 2.3.3 Explain a supply curve, 2.3.4 Shifts and movements of the supply curve, 2.3.5 Causes and consequences of supply changes, 2.3.6 Price elasticity of supply, 2.3.7 Draw supply curves of different elasticity, and 2.3.8 Importance of price elasticity of supply. Each one has a worked solution and a mark scheme showing where the marks go.