Advertisements
Advertisements
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
|
APPEARS IN
संबंधित प्रश्न
Examine the effect of (a) fall in the own price of good X and (b) rise in tax rate on good X, on the supply curve. Use diagrams.
Given saving curve, derive consumption curve and state the steps in doing so. Use diagram.
When does ‘increase’ in supply take place?
When does 'decrease' in supply take place?
How does change in per unit tax influence the supply of a good by a firm? Explain.
Explain with reasons, whether you agree or disagree with the following statement
The supply curve of labour bends backwards
What is meant by ‘increase’ in supply?
Distinguish between :
Percentage method of counting elasticity of demand and Geometric method of counting elasticity of demand.
Give reasons or explain the following statements
The relationship between price and supply is positive.
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 = ________________ .
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:
Change in supply.
Write short note on the following:
Labour supply curve.
Do you agree or disagree with the following statement? Give reason.
The backward slopping supply curve shown as inverse relationship between supply of labour and wage rate.
