Question

1. The supply of a good refers to:

(a) Actual production of goods

(b) Total stock of goods

(c) Stock available for sale

(d) Amount of goods offered for sale at a particular price per unit time

2. Increase or Decrease in Supply means:

(a) Shift in Supply curve

(b) Movement along same supply curve

(c) Both (a) and (b)

(d) Neither (a) or (b)

4. A change in the supply of a commodity along with same supply curve may occur due to :

(a) Change in the price of the commodity

(b) Change in the prices of related goods

(c) Change in the future, expectations about the price of the good

(d) Change in the cost of inputs

5. Expansion in supply refers to a situation when the producers are willing to supply a :

(a) Larger quantity of the commodity at an increased price

(b) larger quantity of the commodity due to increased taxation on that commodity

(c) Larger quantity of the commodity at the same price

(d) larger quantity of the commodity at the decreased price​

Answer 1

Answer:

1. (D)

2. (A)

3. (A)

4. (A)

Answer 2

Answer:

1 = d

2= a

3= a

4= a

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