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प्रश्न
Distinguish between Expansion of Supply and Increase in Supply.
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उत्तर
| Points | Expansion of Supply | Increase in Supply |
| Quantity | Expansion of supply refers to a rise in the quantity supplied of a commodity solely due to a rise in its price. | When more quantity is supplied at the same price, it is called an increase in supply. |
| Factors | Expansion of supply takes place only due to a rise in the price of a commodity. The other factors remain constant. | An increase in supply takes place due to a favourable change in other factors. The price of the commodity remains the same. |
| Supply Curve | Expansion in supply leads to an upward movement on the same supply curve due to a rise in price. | The supply curve shifts to the right of the original supply curve. |
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संबंधित प्रश्न
There are no exceptions to the law of supply.
Distinguish between Contraction of Supply and Decrease in Supply.
Exceptions to the law of supply:
- Constant cost of production
- Constant technique of production
- Does not apply to agricultural goods
- No change in weather conditions
Give economic terms:
Rise in the quantity supplied of a commodity due to a rise in its price, other factors remaining constant −
Find the odd word
Exception to law of supply -
Downward movement along the same supply curve should ______.
Assertion (A): The supply curve of labour slopes downwards.
Reasoning (R): After a certain point of time, when wage rate rises, the supply of labour (hours of work) tends to fall.
State with reason whether you agree or disagree with the following statement:
The supply curve of labour is backward bending.
State with reason whether you agree or disagree with the following statement:
There are many exceptions to the law of supply.
Identify and explain the concept from the given illustration:
Mahesh supplied (sold) more fruits at a comparatively low price due to the perishable nature of fruits.
- Assertion (A): Perishable goods are the exception to the Law of Supply.
- Reasoning (R): Perishable goods are sold in greater quantities only at higher prices.
Law of supply does not apply to ______.
The supply of perishable goods like milk, vegetables, fish is ______.
Discuss any two exceptions to the law of supply.
State one exception to the law of supply.
