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प्रश्न
State the law of supply.
State the law of supply and explain it with the help of a diagram.
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उत्तर १
The law of supply states that other factors being equal, the quantity of a good supplied increases with an increase in the price level and decreases with a decrease in the price level of a good.
उत्तर २
Law of supply states the direct relationship between price and quantity supplied, keeping other factors constant.
The law of supply states that other factors being equal, the quantity of a good supplied increases with an increase in the price level and decreases with a decrease in the price level of a good.
The supply schedule below shows the positive relationship between price and quantity supplied.
| Price (in Rs) | Quantity Supplied |
| 5 | 100 |
| 10 | 200 |
| 15 | 300 |
SS is the supply curve sloping upwards. When the price increases from Rs. 5 to Rs. 15, the quantity supplied also increases from 100 units to 300 units.
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संबंधित प्रश्न
State and explain the law of supply with exceptions.
State with reason whether you agree or disagree with the following statement:
There is a direct relationship between price and quantity supplied.
The relationship between the price of a commodity and the supply of commodity is
What are the reasons for upward sloping supply curve?
What are the factors governing the elasticity of supply?
What are the functions of Entrepreneur?
Examine the Law of Variable Proportions with the help of a diagram.
Elucidate the Laws of Returns to Scale. Illustrate.
A rightward shift in supply curve shows ______.
Other things remaining unchanged, change in supply due to increase in price is called ______.
The Law of Supply states that other things being constant ______.
The producers prefer to supply more when prices are ______.
Price and Supply move in the same direction. Justify the statement.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
What is supply function?
Which of the following is NOT an assumption of 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?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
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?
Which of the following is an exception to the Law of Supply?
Which factor is assumed to remain unchanged under 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?
