R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 6 - Supply and Law of Supply [Latest edition]

What is supply?

Distinguish between supply and stock.

Distinguish between supply and quantity supplied.

Explain the law of supply.

What is meant by elasticity of supply?

What is price unit Elasticity of supply?

When is Elasticity of supply greater than one?

What is the shape of the supply curve?

Explain the following term:

Individual Supply Schedule

What is meant by ‘increase’ in supply?

What is meant by contraction of supply?

What is meant by extension of supply?

Give the formula of elasticity of Supply.

What is ‘decrease’ in supply?

State the degrees of elasticity of supply.

State the formula to measure the elasticity of supply.

State the importance of Elasticity of Supply.

Give any four determinants of elasticity of supply.

State any two factors determining supply.

Distinguish Between:

Increase in supply and Decrease in supply

Distinguish Between:

Expansion of supply and Contraction of supply.

Will you always be ready to sell more if the price of the commodity increases in the market?

Supply is more responsive to price in the long period compared to the short period. Why?

Distinguish between supply and quantity supplied.

What is individual supply?

What is market supply?

What is a supply schedule?

Explain the following term:

Individual Supply Schedule

Write a short note on the following:

Market supply schedule.

What is a supply curve?

What do you mean by the following concept?

Individual Supply Curve

What do you mean by the following concept?

Market Supply Curve

Define supply.

Explain the determinants of supply?

Give reasons for the change in supply.

Examine the concept of the law of supply.

Explain any four exceptions to the law of supply.

What is meant by elasticity of supply?

Give the usefulness of elasticity of supply.

Define or explain the following concept:

Elasticity of Supply

How is elasticity of supply measured according to the percentage method?

Distinguish between Contraction of Supply and Decrease in Supply.

Distinguish between a change in quantity supplied and a change in supply.

Define price elasticity of supply.

Draw the supply curve of the following situation:

Elasticity of supply = 0

Draw supply curve of the following situation:

Elasticity of supply = ∞

With the help of diagrams, explain the relationship between time period and supply.

Mention two factors other than price, which influence the supply of a commodity.

What is the price elasticity associated with the straight line supply curve passing through the origin? Explain with a diagram.

Define price elasticity of supply.

Draw the supply curve of the following situation:

Elasticity of supply = 0

Draw supply curve of the following situation:

Elasticity of supply = ∞

With the help of diagrams, explain the relationship between time period and supply.

State and explain the law of supply.

Mention two assumptions of the law of supply.

Discuss any two exceptions to the law of supply.

Distinguish between supply and stock.

Give two differences between intended supply and actual supply.

State what causes movement along the supply curve and show it diagrammatically.

Draw the supply curve of a perishable commodity. Give a reason for the shape of the supply curve.

Draw the supply curve showing price elasticity of supply equal to one.

Draw the supply curve showing price elasticity of supply less than one.

Draw a straight line supply curve of the following situation.

More than unitary elastic

Explain the supply function.

Explain the law of supply.

Discuss how change in technology affects the supply of a commodity.

Discuss any two exceptions to the law of supply.

Define increase in supply.

Distinguish between expansion of supply and increase in supply.

Distinguish between contraction and decrease in supply.

Why is the supply curve of labour backward sloping? Explain with the help of a diagram.

Discuss how the supply of labour is an exception to the law of supply. Justify the statement using a diagram.

Explain the geometric method of calculating the elasticity of supply.

Derive a market supply curve from two hypothetical individual supply schedule.

How is elasticity of supply different from supply of a commodity?

What are the factors on which the supply of a commodity depends? Discuss them briefly.

What are the reasons for upward sloping supply curve?

Technological advancement leads to cost saving.

Mention the impact of advanced technology on the supply of a commodity.