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प्रश्न
State the law of supply.
State the law of supply and explain it with the help of a diagram.
उत्तर १
The law of supply states that other factors being equal, the quantity of a good supplied increases with an increase in the price level and decreases with a decrease in the price level of a good.
उत्तर २
The law of supply states that other factors being equal, the quantity of a good supplied increases with an increase in the price level and decreases with a decrease in the price level of a good.
The supply schedule below shows the positive relationship between price and quantity supplied.
| Price (in Rs) | Quantity Supplied |
| 5 | 100 |
| 10 | 200 |
| 15 | 300 |
SS is the supply curve sloping upwards. When the price increases from Rs. 5 to Rs. 15, the quantity supplied also increases from 100 units to 300 units.
उत्तर ३
Law of supply states the direct relationship between price and quantity supplied, keeping other factors constant.
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संबंधित प्रश्न
What are the reasons for upward sloping supply curve?
What are the factors governing the elasticity of supply?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
A rightward shift in supply curve shows ______.
Law of supply states that ______.
The Law of Supply states that other things being constant ______.
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
Explain the law of supply.
Price and Supply move in the same direction. Justify the statement.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
State and explain the law of supply with the help of a diagram.
What does the Law of Supply state?
What is supply function?
