Advertisements
Advertisements
प्रश्न
State and explain the law of supply with the help of a diagram.
State the law of supply and explain it with the help of a diagram.
State the law of supply. Illustrate it diagrammatically.
Advertisements
उत्तर
The law of supply states that with all other factors remaining constant, the quantity of a commodity supply varies directly with its price.
Acc. to Dooley: "The law of supply states that the higher the price, the greater the quantity supplied or the lower the price, the smaller the quantity supplied."
Individual Supply Schedule
| Price of good X | Quantity Supplied |
| 5 | 0 |
| 10 | 10 |
| 15 | 20 |
| 20 | 30 |
Supply curve
∴ The supply curve (SS) indicates that as the price of X rises, so does the quantity supplied.
APPEARS IN
संबंधित प्रश्न
State the law of supply.
State with reason whether you agree or disagree with the following statement:
There is a direct relationship between price and quantity supplied.
What are the reasons for upward sloping supply curve?
What are the factors governing the elasticity of supply?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
Examine the Law of Variable Proportions with the help of a diagram.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
The Law of Supply states that other things being constant ______.
The producers prefer to supply more when prices are ______.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
What does the Law of Supply state?
What is supply function?
Which statement best expresses the Law of Supply?
What happens to the quantity supplied if the price of potatoes rises from ₹1 to ₹5 per kg, according to the supply schedule?
Which of these situations violates the "ceteris paribus" (other things being constant) condition for the Law of Supply?
What is the relationship between price and quantity supplied described by the Law of Supply?
What does the supply curve typically look like according to the Law of Supply?
Which real-life example best illustrates the Law of Supply?
