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

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Questions

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

Distinguish between movement along a supply curve and shifts of a supply curve.

Using a graph, distinguish between change in supply and change in quantity supplied.

Distinguish between ‘movement along the supply curve’ and ‘shift in supply curve’ with the help of suitable diagrams.

Distinguish Between
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Solution

Sr. No. Basis A change in quantity supplied A change in supply
1. Meaning Other things remaining the same, when the supply of a commodity changes due to a change in the price of the commodity, it is called a change in quantity supplied. When the supply of a commodity changes due to factors other than the commodity's own price, it is called a change in supply.
2. Types

There are two types of change in quantity supplied:

  1. Expansion of supply
  2. Contraction of supply

Change in supply is also of two types:

  1. Increase in supply
  2. Decrease in supply
3. Effect on Supply Curve It results in movements along the same supply curve. It results in a shift of the supply curve.
4. Diagram

  1. Upward movement from A to B shows expansion of supply.
  2. Downward movement from A to C indicates contraction of supply.

  1. Rightward shift of the supply curve from SS to S1 S1 indicates an increase in supply.
  2. Leftward shift of the supply curve from SS to S2S2 indicates a decrease in supply.
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Notes

Students should refer to the answer according to the question.

Distinction Between Change in Quantity Supplied (Or Movement Along Supply Curve and Change in Supply Or Shift of the Supply Curve)
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Chapter 5: Supply - Law of Supply and Price Elasticity of Supply - TEST YOURSELF QUESTIONS [Page 98]

APPEARS IN

Frank Economics [English] Class 12 ISC
Chapter 5 Supply - Law of Supply and Price Elasticity of Supply
TEST YOURSELF QUESTIONS | Q 10. | Page 98
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Chapter 5 Supply - Law of Supply and Price Elasticity of Supply
TEST YOURSELF QUESTIONS | Q 7. i. | Page 99
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Exercise | Q 10. | Page 98
Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
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QUESTIONS | Q 4. | Page 73
Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 4 Theory of Supply
Exercise | Q 4. | Page 99
R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 6 Supply and Law of Supply
TEST QUESTIONS | Q B. 6. | Page 6.19
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