Increase in supply is shown by
- Aprice change only
- Bmovement on the same supply curve
- Cshift of supply curve to the left
- ✓shift of supply curve to the right
Answer: D.
View full solution →Question types
Supply Analysis question types
114 questions across 14 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.
114
Questions
14
Question groups
5
Question types
01
Choose the correct option
6 Q→02Complete the correlation
10 Q→03Complete the following statements
15 Q→04Identify and explain the concept .
9 Q→05Distinguish between
13 Q→06Answer the following
9 Q→07State with reason, whether you agree or disagree with the following statement
17 Q→08Observe the following table and answer the questions
8 Q→09Read the given passage and answer the questions
4 Q→10Answer the following questions in detail
1 Q→11ANSWER IN ONE SENTENCE (GIVE ECONOMIC TERM)
11 Q→12FIND THE ODD WORD OUT.
5 Q→13CHOOSE THE WRONG PAIR.
3 Q→14CHOOSE THE CORRECT PAIR.
3 Q→Sample Questions
Supply Analysis questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
Average Revenue is obtained when .
- Aprice is multiplied with quantity
- Blast unit is sold
- ✓total revenue is divided by quantity sold
- Dall of these
Answer: C.
View full solution →Exceptions to the law of supply are
- ✓need for cash
- Bupward sloping supply curve
- Cfactory products
- Dfuture expectation of high price
Answer: A.
View full solution →Statement related to reservation price are
- Amaximum price
- Bconstant price
- Csame for all seller
- ✓differ from seller to seller
Answer: D.
View full solution →Determinants of supply are …………………..
- ✓cost of production
- Bshort period
- Cconstant price
- Dlocal market
Answer: A.
View full solution →Movement on same supply curve : ……………….:: Shift of supply curve: Change in supply.
Single seller : Individual Supply :: All sellers : ……………….
Marginal Revenue : $TR _n-T R_{n-1}:=$ $\qquad$ : TR/TQ
View full solution →………………. : Individual supply :: Macro concept: Total supply
Rare goods : Exception to Law of Supply :: Assumption of Law of Supply : ……………….
An addition made to TR by selling one additional unit of a commodity is called ………………
Total expenditure incurred by a firm on factors of production for the production of goods and services is called ………………
Per unit cost of production is called ………………
When more quantity is supplied at the same price of a commodity, it is called ………………
When quantity supplied rises due to an increase in price of a commodity, it is called ………………
A seller has go to village urgently. So, he sells his product at low price even if other seller are selling similar product at higher price. Given economic reason in what way it is related to the law of supply.
At price Rs. 30 per kg Rameshbhai ( supplied 100 kg of wheat, Bhaveshbhai i supplied 150 kg of wheat and Dharmesh bhai supplied 200 kg of rice. ;
Mr. Chaturvedi has 5000 kg rice at his disposal. He offered 2000 kg rice in market at Rs. 25 per kg.
Mr. Kriplani had 200 apples in hand. He bought 500 apples from wholesaler.
Mr. Kriplani produced 2000 bales of cloth during the year 2018-19.
Demand and Supply.
Increase in Supply and Decrease in Supply.
Demand Curve and Supply Curve.
Total Cost (TC) and Total Revenue (TR).
Variation in supply and Changes in Supply.
What are the assumptions to the law of supply?
Explain the concepts of TR, AR, and MR.
Explain concept of $TC, AC$ and $MC.$
View full solution →Explain change in supply with the help of diagram.
OR
Explain increase in supply and decrease in supply.
OR
Explain increase in supply and decrease in supply.
Explain variation in supply with the help of diagram.
Price is the only determinant of supply.
There are no exceptions to law of supply.
There is difference between stock and supply.
Demand and Supply are opposite forces.
AR is always more than TR.
Calculate MC at each level of output of the following data.
TFC (Total Fixed Cost) of a commodity ‘x’ of a firm is ₹ 20 Calculate (a) TVC and (b) TC from the following data.
TFC (Total Fixed Cost) of a commodity ‘x’ of a firm is ₹ 20 Calculate (a) TVC and (b) TC from the following data.
Draw the market supply curve from the schedule and explain it.
Complete the quantity of potato supplied by the firms to the market in the above table.
State the relationship between price and quantity supplied.
Does this justify the law of supply? Give reason for your answer.
Demand in world market for Indian antique goods have increased but supply of these are fixed even though buyers are ready to pay high price for it. On the basis of this answer the following :
1. Draw figure for this.
Workout : Price of oranges is ₹ 200 per dozen. During festival time at the same price 2 dozen, oranges are offered for sale. On the basis of this answer the following
1. Draw the figure for this.
2. Is it the case of variation or change in supply. Give reason.
Find TR of a firm if it sells 500 units of £ commodity ‘X? at 25 ₹ per unit.
State and explain law of supply with exceptions.
Net revenue earned by selling an additional unit.
Cost incurred on variable factor like raw material.
Fall in supply due to fall in taxes.
Rise in supply due to fall in taxes.
Expansion and contraction of supply due to change in price.
[ncrease in supply, Decrease in supply, Extension in supply, Market supply.
Samuelson, Marshall, Robbins, Abdul Kalam.
AC, TC, TFC, AR.
Rent, Wages, Profit, Capital.
Land, Labour, Capital, Rent.
| Group ‘A’ | Group ‘B’ |
| 1. Total Revenue | Price x Quantity |
| 2. Total Cost | TFC + TVC |
| 3. Average Cost | TR x TQ |
| Group ‘A’ | Group ‘B’ |
| 1. Extension in supply | More supply at higher price |
| 2. Contraction in supply | Less supply at lower price |
| 3. Increases in supply | Part of variation in supply |
| Group ‘A’ | Group ‘B’ |
| 1. Total Output | Sum of quantity produced |
| 2. Stock | Reservation Price |
| 3. Supply | Quantity offered for sale |
| Group ‘A’ | Group ‘B’ |
| 1. $MC_n$ | $TC_n – TC_{n-1}$ |
| 2. TR | Q/P |
| 3. AR | TR x TQ |
| Group ‘A’ | Group ‘B’ |
| 1. Individual supply | Potential supply |
| 2. Determinants of law of supply | Infrastructural facilities |
| 3. Assumption of the law of supply | Change in government policy |
| Group ‘A’ | Group ‘B’ | |
| 1. Increase in supply | Technology up gradation | |
| 2. Exception to law of supply | More supply at higher price | |
| 3. Determination of law of supply | Perishable Goods | |
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