NCERT Solutions for Class 12 Micro Economics Supply

NCERT Solutions for Class 12 Micro Economics Supply

NCERT Solutions for Class 12 Micro Economics Supply is designed and prepared by the best teachers across India. All the important topics are covered in the exercises and each answer comes with a detailed explanation to help students understand concepts better. These NCERT solutions play a crucial role in your preparation for all exams conducted by the CBSE, including the JEE.

NCERT TEXTBOOK QUESTIONS SOLVED

1. Define supply. [CBSE, Foreign 2004]

Ans. Supply refers to the quantity of a commodity that a firm is willing and able to offer for sale, at each possible price during a given period of time.

2. Define market supply. [CBSE 2005]

Ans. Market supply refers to the quantity of a commodity that all firms are willing and able to offer for sale at each possible price during a given period of time.

3. State any two factors affecting elasticity of supply.

Ans. (i) Nature of commodity;
(ii) Time period.

4. What effect does an decrease in input price has on the supply of the commodity?

Ans. Supply will increase.

5. What is the shape of a supply curve?

Ans. Supply curve is a positively shaped upward sloping curve.

6. State the law of supply. [CBSE 2003]

Ans. It states that price of the commodity and quantity supplied are positively related to each other when other factors remain constant (ceteris paribus).

7. What causes a movement along the supply curve of a good? [CBSE 2004]

Ans. Change (increase or decrease) in price causes a movement along the supply curve.

8. What causes a downward movement along a supply curve? [CBSE 2004, 09]

Ans. Fall in price and fall in quantity supplied, i.e., contraction in supply.

9. What causes an upward movement along the supply curve of a commodity? [CBSE 2004]

Ans. Rise in price and rise in quantity supplied, i.e., expansion in supply.

10. Define price elasticity of supply.

Ans. The degree of responsiveness of supply to the changes in price of the commodity is known as Price Elasticity of Supply.

11. If the quantity supplied does not change at all as price changes, what will be the elasticity of supply?

Ans. Perfectly inelastic supply (ES = 0).

12. What is the price elasticity of supply of a commodity whose straight line supply curve passes through the origin forming an angle of 75°? [CBSE Sample Paper 2010]

Ans. Unitary elastic (ES = 1).

13. When is the supply of a commodity called 'elastic'? [CBSE 2006]

Ans.The supply of a commodity is called 'elastic' when the percentage change in quantity supplied is more than percentage change in price, then ES > 1 and the result is known as more than unit elastic supply.

14. Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why? [CBSE Outside, CBSE 2006]

Ans. When PES = 0.8, PES is inelastic because percentage change in quantity supplied is less than percentage change in price.

15. What is meant by perfectly elastic supply of a commodity? [CBSE 08C]

Ans. When quantity supplied changes and price remains constant, then the supply of such commodity is said to be perfectly elastic.

Post your comments

Your mobile number will not be published.

View Comments

  • Muthalagu
  • 2020-August-10 13:04:53
10 A class
  • Vadde madhu
  • 2020-August-09 13:05:59
Hallo
  • Veeranna
  • 2020-August-04 18:04:29
1:1 2004
  • Eslavath Kalyan
  • 2020-July-29 13:13:11
Komatipalli kesamudram
  • Gumma pavan kalyan
  • 2020-July-27 19:15:47
Hall ticket
  • Rajudutta
  • 2020-July-21 14:09:35
Excellent solutions and easy to learn.
  • VAGEESHA
  • 2020-July-17 12:42:54
NICE JOB
  • Syed sayeed saaqib
  • 2020-July-17 09:17:31
10 th class marks
  • P.fairoz khan
  • 2020-July-17 09:17:26
My SSC result
  • Gangavarapu Ashok Reddy
  • 2020-July-16 18:48:26
10 the class 2020 markas
  • Kusi Mani kumaR
  • 2020-July-16 13:12:26
2008125010
  • suhailhajam
  • 2020-July-16 13:12:18
plz kindly MCQ question s
  • suhailhajam
  • 2020-July-16 09:23:15
plz kindly MCQ question s
  • Koripalli. Bindu ramya
  • 2020-July-16 09:23:07
Inter results second year
  • Faizan
  • 2020-July-15 19:05:41
Beautiful
  • K. Umesh Chandra
  • 2020-July-15 19:05:34
Please release 10th results
  • Surra naidu
  • 2020-July-15 18:11:06
S me result
  • Lakpathi
  • 2020-July-15 18:10:58
Cbse resuls
  • S.sravani
  • 2020-July-15 18:10:50
CBSE 10th class result
  • Gundrathi Mohan
  • 2020-July-15 18:10:35
S me results
  • Gundrathi Mohan
  • 2020-July-15 12:58:21
S me results
  • suhailhajam
  • 2020-July-15 12:02:02
plz kindly MCQ question s
  • chandar
  • 2020-July-15 12:01:55
chan
  • suhailhajam
  • 2020-July-15 09:56:17
plz kindly MCQ question s
  • Kaustab Roy
  • 2020-June-29 08:44:49
I want to explore everything
  • Anup
  • 2020-June-16 19:51:29
Workbook unit 1 exercise solution
  • Khushdeep Kaur
  • 2020-June-15 09:19:07
I want pdf of MCQ class 10th C.B.S.E
  • Saddam
  • 2020-June-09 15:24:13
Kindly s me 10 maths mcq question answer
  • SADDAM
  • 2020-June-08 14:24:07
SEND ME
  • Bed prakash
  • 2020-June-01 09:44:40
Mera result
  • palla sivaram
  • 2020-April-21 13:55:32
haiii
  • Dany
  • 2020-March-07 16:10:18
NCERT Solutions Very Good I Like It
  • laxman
  • 2020-February-17 15:31:16
good
  • Bhanusam.manjula
  • 2019-August-17 12:35:47
Ssc 2007batch regular halltichet number
  • Ramu
  • 2019-July-31 12:35:35
NCERT Solutions
  • Kalamata gowriswari
  • 2019-June-17 17:57:24
Open 10th result 2019ap
  • Nagra rayal
  • 2019-May-17 10:35:13
Yappudu 10th reselts
  • Yanati nagarani
  • 2019-May-17 10:20:31
10th result
  • NAGESWARA
  • 2019-May-11 18:30:50
How can see ssc ap 10th results
  • m.kalyani
  • 2019-May-11 18:30:36
10th result
  • Naveen
  • 2019-May-10 13:17:17
10th results
  • Sri kesav
  • 2019-May-10 09:58:50
Please tell me the correct date of AP ssc results
  • K. Sudhakar
  • 2019-May-10 09:58:43
Plz 10th result
  • V pawan durga sriniva
  • 2019-May-07 14:24:49
Please 10th cbsc results
  • V pawan durga sriniva
  • 2019-May-07 14:24:39
Please 10th cbsc results
  • Charan
  • 2019-May-07 14:24:21
Result ssc
  • Ayesha
  • 2019-May-07 14:24:17
At. What time did exam results will come?
  • Vadithya suresh
  • 2019-May-04 14:44:06
Results
  • VANKUDOTH pavan kalyan
  • 2018-May-30 10:16:07
Results
  • C H VAISHAVI
  • 2018-May-29 18:18:18
Cbse result by name
  • varunsai sanne
  • 2018-May-29 16:00:17
Xth results 2018
  • varunsai sanne
  • 2018-May-29 15:44:24
Xth results 2018
  • Yalagala Srihari
  • 2018-May-29 13:04:27
Exam results
  • Alpesh Dhamale
  • 2018-May-29 11:36:50
Nice article my baby wait for exam result i hope this year pass percentage may be increase
  • m. mohan rao
  • 2018-May-28 11:03:47
hi, s me cbse 10 class 2018 results
  • akshaya
  • 2018-May-26 10:22:07
at what time resilts are going to today
  • Velupala Ashwarya
  • 2018-May-15 11:01:52
My result
  • Ramu
  • 2018-May-12 16:09:34
good information