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प्रश्न
Price and Supply move in the same direction. Justify the statement.
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उत्तर
According to the law of supply, the quantity of a commodity supplied varies directly with its price, assuming all other parameters remain constant.
"The law of supply states that the higher the price, the greater the quantity supplied or lower the price, the smaller the quantity supplied."
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संबंधित प्रश्न
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 functions of Entrepreneur?
State and explain the elasticity of supply.
Examine the Law of Variable Proportions with the help of a diagram.
Explain 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?
