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प्रश्न
Explain the distinction between “change in quantity supplied’ and “change in supply”. Use diagram.
उत्तर
| Basis | Change in Supply | Change in Quantity Supplied |
| 1. Meaning | Assume that the price remain constant, there is change in the supply because of change in other variables such as technological change, input prices, unit tax and price of other related goods. |
Assume that other variables remain constant, there is a change quantity supplied because of the change in the own price of a good. |
| 2. Functional relation |
`Q_x=f(barP_X,P_Y,P_F,T,G,G_p,N_F)` where `barP_X="Own price of a good"` `P_Y="Price of related goods"` `P_F="Price of factors of production"` `T="State of technology"` `G="Goal of the firm"` `G_p="Government policy"` `N_F="Number of firms"`
|
`Q_x=f(P_x,barP_y,barT,bar(P_F),barG,barG_p,barN_F)` where `barP_x="Own price of a good"` `barP_y="Price of related goods"` `bar(P_F)="Price of factors of production"` `barT="State of technology"` `barG="Goal of the firm"` `barG_p="Government policy"` `barN_F="Number of firms"`
|
| 3. Shift and Movement | The supply curve of the firm will shift rightward or leftward. | The supply curve of the firm will move upwards or downwards. |
| 4. Types | Shift in the supply curve— increase in supply and decrease in supply. | Movement along a supply curve—expansion of supply and contraction of supply. |
| 5. Diagram for increase/expansion |
Increase in supply
|
Expansion in supply
|
| 6. Diagram for decrease/contraction |
Decrease in supply
|
Contraction in supply
|
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संबंधित प्रश्न
If price falls, the supply curve will shift to the left.
When does 'decrease' in supply take place?
Explain how technological progress is a determinant of supply of a good by a firm.
Distinguish between the following.
Percentage method of measuring the elasticity of supply and Geometric method of measuring the elasticity of supply.
What is meant by ‘increase’ in supply?
What is a supply schedule? What is the effect on the supply of a good when Government gives a subsidy on the production of that good? Explain.
Answer the following questions in detail.
What is meant by Supply? State its determinants.
Answer with reasons whether you agree or disagree with the following statement:
The supply curve slopes downward from left to right.
Fill in the blank with appropriate alternative given below
Total Revenue ÷ Number of units Sold = ________________ .
State whether the following statement is TRUE and FALSE.
Stock is the source of supply.
State whether the following statement is TRUE and FALSE.
Supply is indirectly related to price.
Give reason or explain:
The supply of agricultural commodity is relatively inelastic.
Distinguish between the following:
Individual Supply and Market Supply
Write short note on the following:
Market supply schedule.
Write short note on the following:
Labour supply curve.
State with reason whether you 'agree' or 'disagree' with the following statement.
Supply depends on several factors.
