Question

How would you explain a situation when supply of a commodity increase without any increase in price of the commodity? ​

Answer 1

HEY MATE✌️✌️

Q>How would you explain a situation when supply of a commodity increase without any increase in price of the commodity?

ANSWER------------------------------------

When supply of a commodity increase without any increase in price of the commodity ,it is known as the situation of increase in supply .Increase in supply occurs when quantity supply increases due to determinants other than own price of the commodity.

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Answer 2

We often hear news about how prices of gold change every single moment. They never seem to be static and are always fluctuating. Thus a graphical representation of market equilibrium for gold would always keep changing. This can happen due to many factors that come under the umbrella of either shift or increase in demand, supply or both.

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