Question
Draw the market supply curve from the schedule and explain it.
✓
Answer
When the schedule is plotted on the graph we get a market supply curve ‘SS’ which is upward sloping. This curve shows that as price rises from ₹ 1 to ₹ 2, supply rises from 1oo to 112 kg, but when price rises from ₹ 2 to ₹ 3, supply rises to a greater extent from 112 kg to 155 kg in the market. When price rises to ₹ 4 Supply falls from 155 kg to 154 kg. This may be because of perishable or seasonal good that supply could not Jj be increased and supply falls. This show backward bending supply curve, showing partly an exception to the supply curve.
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Similar questions
Study the following table and answer the question.
Table A : Trade data for period 2009 – 10 to 2017 – 18
QU 1. In which year export growth was least and how much?
QU 2. In which year import growth was maximum and how much?
QU 3. During which year trade balance was minimum?
QU 4. Which concept of Balance of Trade is applicable here?
QU 5. How much was India’s export value in the year 2017-18?
QU 6. Give your opinion on India’s foreign trade.
Table A : Trade data for period 2009 – 10 to 2017 – 18
QU 1. In which year export growth was least and how much?
QU 2. In which year import growth was maximum and how much?
QU 3. During which year trade balance was minimum?
QU 4. Which concept of Balance of Trade is applicable here?
QU 5. How much was India’s export value in the year 2017-18?
QU 6. Give your opinion on India’s foreign trade.
1) Demand at point ‘C’ is relatively elastic demand.
2) Demand at point ‘B’ is unitaiy elastic demand.
3) Demand at point ‘D’ is perfectly inelastic demand.
4) Demand at point ‘A’ is perfectly elastic demand.
2) Demand at point ‘B’ is unitaiy elastic demand.
3) Demand at point ‘D’ is perfectly inelastic demand.
4) Demand at point ‘A’ is perfectly elastic demand.
A) Supply schedule of chocolates
| Price in Rs. | Quantity supplied in units |
| 10 | 200 |
| 15 | ……… |
| 20 | 300 |
| 25 | 350 |
| 30 | …….. |
| 35 | …….. |
| 40 | …….. |
Calculate MC at each level of output of the following data.
Fill in the blanks in the above schedule.
Explain the diagrams:
Share of top Five Commodities in India’s Export 2018-19
QU 1. Name the second largest exported commodity in the year 2018-19.
QU 2. How much is the share of drug formulations, biologicals (chemical products) in total export of India.
QU 3. Which commodity has least share in the total export of India and how much was it?
QU 4. Give your opinion on India’s export.
QU 1. Name the second largest exported commodity in the year 2018-19.
QU 2. How much is the share of drug formulations, biologicals (chemical products) in total export of India.
QU 3. Which commodity has least share in the total export of India and how much was it?
QU 4. Give your opinion on India’s export.
Complete the above supply schedule.
Complete the quantity of potato supplied by the firms to the market in the above table.
Identify and define the degrees of elasticity of demand from the following demand curves.
