Supply and Its Determinants
Economics ⇒ Markets and Price Determination
Supply and Its Determinants starts at 11 and continues till grade 12.
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Define supply in economics.
Describe the effect of an improvement in technology on the supply of a good.
Explain how expectations of future prices can affect current supply.
Explain the concept of supply schedule.
Explain the difference between movement along the supply curve and shift of the supply curve.
Explain the effect of government regulations on supply.
Explain the effect of time period on the elasticity of supply.
Explain the impact of natural calamities on the supply of agricultural products.
If the government imposes a price floor above the equilibrium price, what will happen to supply?
State any two factors, other than price, that affect the supply of a commodity.
State the law of supply.
Suppose the supply function is given as S = 10 + 2P, where S is quantity supplied and P is price. What is the quantity supplied when P = 5?
Suppose the supply function is S = 5P - 10. If the price increases from Rs. 4 to Rs. 6, by how much does the quantity supplied increase?
Suppose the supply schedule for a good is as follows: At Rs. 10, supply is 100 units; at Rs. 20, supply is 200 units. What is the slope of the supply curve?
What is meant by 'market supply'?
What is meant by 'quantity supplied'?
What is the effect of an increase in input prices on the supply curve?
What is the effect of an increase in the number of sellers in the market on the supply of a good?
