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प्रश्न
Mention the impact of advanced technology on the supply of a commodity.
Explain the effect of improved (or advanced) technology on the supply curve of a commodity.
उत्तर
Improvement in technique of production reduces the cost of production. Consequently profits tend to increase, inducing an increase in supply and the supply curve shifts to the right.
Technological advancement → Cost ↓ → Profit ↑ → Supply ↑ → Rightward shift
संबंधित प्रश्न
Due to installation of a machine with latest technology, the cost of production has decreased. It will lead to ______.
If Government of India bans the production of plastic bags, how will the supply curve be affected?
What do you understand by shifts of the supply curve?
If the government of India levies excise duty on sugar, in which direction will the supply of sugar shift?
Point out important factors that lead to increase in supply.
Discuss four factors which determine decrease in supply phenomenon.
Distinguish between contraction in supply and increase in supply of a commodity.
What causes a downward movement along a supply curve?
What is meant by 'increase' in supply?
With the help of a diagram, define increase in supply.
