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Central Bank

Write True or...

Question

Write True or False with a reason.
Extension and contraction of supply are related to factors other than the price of the concerned commodity.

A

True

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B

False

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Solution

The correct option is B False
False. Extension and contraction of supply are related to the price of the concerned commodity, other factors remaining constant.

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Similar questions

Q. Write True or False with a reason.
Price elasticity of supply measures the change in quantity supplied in response to a change in own price of the commodity.

Q. Write True or False with a reason.
Supply increases in response to increase in price of the concerned commodity.

Q. Write True or False with a reason.
Increase in price leads to forward shift in supply curve of a commodity.

Q. If there is change in any other determinant of supply (other than own price of the concerned commodity), the supply curve must shift to the right or left. Do you agree? Give reason.

Which of the following are true?

a) Extension and Co when price of one commodity falls, new consumers will buy commodity contraction of demand are related to change in price
b) Extension and Contraction of demand results in the movement along side the demand curve

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