1
Question
What does the upward movement curve indicate?
What does the upward movement curve indicate?
Open in App
Solution
The correct option is B Price and quantity supply move in the same direction
Other things being equal, when the supply of a commodity expands due to a rise in its price, it is called the upward movement or extension of supply. Hence, the price and the quantity supply move in the same direction.
Price and quantity supply move in the same direction
Other things being equal, when the supply of a commodity expands due to a rise in its price, it is called the upward movement or extension of supply. Hence, the price and the quantity supply move in the same direction.
Suggest Corrections
1
Similar questions