Sandeep Garg Class 11 Microeconomics Solutions Chapter 9 Supply is explained by the expert Economics teachers from the latest edition of Sandeep Garg Microeconomics Class 11 textbook solutions. We at BYJU’S provide Sandeep Garg Economics Class 11 Solutions to give comprehensive insight about the subject to the students.
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Sandeep Garg Solutions Class 11 – Chapter 9 – Part A – Microeconomics
Question 1
Define Supply.
Ans: Supply refers to the quantity of a commodity that a firm is willing and able to offer for sale at a given price during a given period of time.
Question 2
What are the 6 Determinants of Supply?
Ans: 6 important factors affecting supply are:
- Price of a given commodity
- Prices of other goods
- Prices of factors of production
- State of technology
- Government policy
- Goals of the firm
Question 3
What are the 3 Determinants of Market Supply?
Ans: 3 Determinants of Market Supply are:
- Number of firms in the market
- Future expectation regarding price
- Means of transportation and communication
Question 4
Define Marker Supply Schedule (MSS).
Ans: Marker Supply Schedule refers to a tabular statement showing various quantities of a commodity that all the producers are willing to sell at various levels of price, during a given period of time.
Question 5
What is the Supply Curve?
Ans: Supply curve refers to a graphical representation of the supply curve.
Question 6
Graphically represent the Individual Supply Curve.
Ans:
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