Goyal Brothers Prakashan solutions for Economics [English] Class 10 ICSE chapter 4 - Theory of Supply [Latest edition]

Following is an essential feature of supply:

Which one of the following is not a feature of supply?

Other things remaining unchanged, change in supply due to increase in price is called ______.

The diagram shows the supply of cotton clothes which of the following would be the case of movement from A to B?

Law of supply states that ______.

Law of supply does not apply to ______.

The law of supply is based on the assumption of ______.

Due to installation of a machine with latest technology, the cost of production has decreased. It will lead to ______.

In the case of ______, supply falls at the same price.

The following supply curve shifts from SS to S₁S₁. It may be due to ______.

Which of the following does not cause shift of supply curve of a good?

Which of the following factor may cause decrease in supply?

Increase or decrease in supply means ______.

Identify the incorrect statement from the following:

What is the degree of elasticity of supply in the diagram?

A 10 per cent increase in price of a good causes 5 per cent increase in its quantity supplied, elasticity of supply will be ______.

When price of a·product rises by 10% its quantity supplied also rises by 10%. Find out price elasticity.

Which of the following does not cause shift of supply curve of a good?

Which of the following measures of price elasticity shows elasticity shows elastic supply?

In case of ______, supply curve is a vertical straight line parallel to the Y-axis.

Which of the following measures of price elasticity shows inelastic supply?

Price elasticity of supply is likely to be ______ in the long run.

The supply of perishable goods like milk, vegetables, fish is ______.

When there is no change in price, but quality supplied changes, it implies a situation of ______.

If the price of factors of production increases, then the supply will ______.

Cotton and cotton seeds are examples of ______ supply.

If the cost of production is less than the supply will ______.

The producers prefer to supply more when prices are ______.

When the government gives tax ______ than the supply of goods will increase.

When producers expect price rise in the future, they would like to ______ the present supply of their commodities.

Price of the commodity and quantity supplied of that commodity is ______ related.

If the number of firms producing a particular commodity increases, the market supply of that commodity will be ______.

Increase in the tax on a commodity will lead to ______ in the supply of the commodity.

______ represents downward movement along the same supply curve.

The products which are identical in design, shape quality, size, colour, packing, etc. are ______.

When percentage change in quantity supplied is equal to percentage change in price then it is ______ supply.

Identify the degree of elasticity of supply from the following graph:

With price being same an increase in the price of inputs will lead to ______ in the supply curve.

The year 2023 was celebrated as 'International Year of Millets' and the government decided to subsidize the production of millets. In such case the supply curve will _______.

Study the table and examine the relation between price and quantity supplied:

The following image shows:

Ecofriendly bricks are made from recycled waste. To encourage the producers, Government plans to subsidise electricity and water supply. In this scenario the supply curve of the ecofriendly bricks in market ______.

Statement (1): Stock is related to a point of time.

Statement (2): Supply is related to a period of time.

Assertion (A): Increase in supply will lead to an upward movement along the supply curve.

Reason (R): Expansion of supply is due to a rise in the own price of the commodity.

Assertion (A): A change in supply implies that a larger or smaller quantity will be supplied at the same price.

Reason (R): Price is the sole determinant of change in supply.

Statement (1): When % change in quantity supplied to is equal to % change in price, then supply is unit elastic.

Statement (2): When a linear straight line passes through the origin, the elasticity of supply will be perfectly elastic.

Statement (1): When supply curve is vertical, price elasticity is infinity.

Statement (2): When supply curve is horizontal, price elasticity of supply will be zero.

Statement (1): The coefficient of price elasticity of supply 2 shows that when price changes by 2%, supply also changes by 2%.

Statement (2): E_s = 1.8 signifies that supply is elastic.

Statement 1: Producers benefit from improved and advance technology.

Statement 2: Improved technology reduces the cost of production.

Define the term supply.

Define the term supply.

How is supply different from stock?

Explain the determinants of supply.

Explain the determinants of supply?

Draw a supply curve.

Explain how the supply of a commodity is affected by the prices of other related commodities. Give suitable examples.

Explain the law of supply.

Price and Supply move in the same direction. Justify the statement.

Mention two assumptions of the law of supply.

Construct an imaginary individual supply schedule. Draw an individual supply curve based on an imaginary individual supply schedule.

Derive market supply schedule and curve from the following hypothetical individual supply schedules of two firms A and B.

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

What is an extension of supply?

What is contraction of supply?

What do you understand by shifts of the supply curve?

Point out two factors that lead to increase in supply.

Mention two factors which cause decrease in supply.

How does an improvement in production technology influence the supply curve of a firm?

If the government of India levies excise duty on sugar, in which direction will the supply of sugar shift?

Define elasticity of supply.

When is the supply of a commodity is called elastic?

Draw a straight line supply showing elasticity greater than one.

Draw a perfectly elastic supply curve.

Draw a perfectly inelastic supply curve.

Why does the quantity supplied increases with a rise in price? Give two reasons.

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.

The following diagram shows the supply curve of three commodities. Rank their price elasticity.

Study the graph and identify the supply curves S₁ and S₃ with respect to its time elements.

Draw a well-labelled diagram showing the price elasticity of supply of a commodity starting from the origin.

Explain briefly the impact of the cost of production on the elasticity of supply.

What is the formula for percentage method of calculating price elasticity of supply?

Give a diagrammatic representation of Relatively Elastic Supply.

Under which scenario does the supply curve become parallel to the y-axis?

Distinguish between supply and stock.

Explain four factors on which the supply of a commodity depends.

State and explain the law of supply with the help of a diagram.

Discuss any two exceptions to the law of supply.

How is a market supply schedule attained from individual supply schedules of a commodity?

Explain three factors causing a shift of the supply curve.

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

Define the term supply.

Explain three reasons for the rightward shift of the supply curve.

What is meant by shift in supply?

Explain three determinants of a leftward shift of the supply curve.

Distinguish between expansion of supply and increase in supply.

Define a decrease in supply.

Explain three determinants of a leftward shift of the supply curve.

Distinguish between contraction and decrease in supply.

With the help of a diagram, explain the meaning of the increase in supply.

With the help of a diagram, explain the meaning of a decrease in supply.

Explain five determinants of shift in supply curve.

Define elasticity of supply.

Explain any four determinants of elasticity of supply.

What is meant by elasticity of supply?

Using graphs, explain any four types of elasticity of supply.

With the help of a suitable diagram, explain the following degree of elasticity of supply.

E_s = ∞

With the help of a suitable diagram, explain the following degree of elasticity of supply.

E_s > 1

Explain the law of supply.

Explain any three factors other than price which determine supply in the market.

Define a relatively elastic supply.

Draw relatively elastic supply.

Define a relatively inelastic supply.

Draw relatively inelastic supply.

With the help of a suitable diagram, explain the contraction of supply. 

What do you mean by market supply?

Briefly explain any three factors that affect supply of a commodity.

Define the term supply.

Distinguish between supply and stock.

What is a supply schedule?

What is market supply?

What is supply function?

State any two factors determining supply.

Define supply curve.

Explain the law of supply.

What is meant by movement along the supply curve (or change in quantity supplied)?

What is meant by shift in supply?

What is an extension of supply?

What is contraction of supply?

What causes a downward movement along a supply curve?

What causes an upward movement along the supply curve of a commodity?

What is meant by ‘increase’ in supply?

Define a decrease in supply.

How does technological progress affect the supply curve of a firm?

If a farmer grows rice and wheat, how will a decrease in the price of wheat affect the supply curve of rice?

How does the imposition of taxe affect the supply curve of a firm?

How does an decrease in price of an input affect the supply curve of a firm?

How does a increase in the number of firms in a market affect the market supply curve?

Define elasticity of supply.

If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?

What is meant by inelastic supply?

What do you mean by elastic supply?

When is supply of a good unitary elastic?

What is meant by perfectly elastic supply?

What do you mean by perfectly inelastic supply?

Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?

Why is the supply of eggs inelastic?

Study the graph and identify the supply curves S₁ and S₃ with respect to its time elements.

Define the term supply.

State and explain the law of supply with the help of a diagram.

Give two reasons for the positive slope of the supply curve.

With the help of a hypothetical supply schedule, draw a supply curve.

State one exception to the law of supply.

Explain the following diagram.

With the help of a diagram, define an increase in supply.

Discuss four factors which determine increase in supply phenomenon.

With the help of a diagram, define a decrease in supply.

Mention two factors which cause decrease in supply.

How does an improvement in production technology influence the supply curve of a firm?

What effect does increased input prices have on the supply curve of a commodity? Draw a diagram to explain your answer.

Explain the determinants of supply?

With the help of a suitable diagram, explain the following degree of elasticity of supply.

E_s = ∞

With the help of a suitable diagram, explain the following degree of elasticity of supply.

E_s > 1

Explain the percentage method of measuring price elasticity of supply.