Advertisements
Advertisements
प्रश्न
Price and Supply move in the same direction. Justify the statement.
Advertisements
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."
APPEARS IN
संबंधित प्रश्न
State the law of supply.
The relationship between the price of a commodity and the supply of commodity is
Elucidate the Laws of Returns to Scale. Illustrate.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
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 real-life example best illustrates the Law of Supply?
