Question

State with reasons whether you agree or disagree with the following statements. 

Supply curve slopes upward from left to right.

Options

• Agree

• Disagree

Answer 1

I Agree with this statement.

Reasons:

1. According to the Law of Supply propounded by Dr. Alfred Marshall, “Other things being constant, the higher the price of a commodity, the greater the quantity supplied and the lower the price of a commodity, the smaller the quantity supplied.”
2. This statement can be explained with the help of the following diagram:
   
3. From the diagram it can be seen that as price rises from OP to OP₁ supply rises from OQ to OQ₁. Similarly, as price falls from OP to OP₂ supply falls from OQ to OQ₂. Supply curve, i.e., SS indicates the direct relationship between the price and the quantity supplied of a commodity

Therefore, Supply curve slopes upward from left to right.