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Question
Write short answer for the following question :
Explain the increase in supply and decrease in supply.
Solution
| Increase in Supply |
Decrease in Supply
|
| 1. When more quantity of a commodity is supplied at the same price it is called increase in supply. | 1. When less quantity of a commodity is supplied at the same price it is called decrease in supply. |
| 2. Price remains the same but conditions of supply brings favourable effect on supply. | 2. Price remains the same but condition of supply brings unfavourable effect on supply. |
|
3.
|
|
| 4. Sipply curve shifts at the right side. | 4. Supply curve shifts at the left side. |
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