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Supply Analysis — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsSupply Analysis2 Marks
Question
Demand and Supply.
✓

Answer

Demand:

  1. Demand is a desire backed by ability and willingness to pay.
  2. Demand is inversely related to price.
  3. Demand curve has negative slope.

Supply:

  1. Supply means the various quantities offered for sale by a producer at a given price and at a given period of time.
  2. Supply is directly related to price.
  3. Supply curve has positive slope.

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