29th Oct Theory of Supply Quiz 2 – Punjab Meritorious School Preparation Portal

Name

Email

School Name with City

Phone Number

Supply is the

limited resources that are available with the seller

cost of producing a good

entire relationship between the quantity supplied and the price of good

Willingness to produce a good if the technology to produce it becomes available

The quantity supplied of a good or service is the amount that

is actually bought during a given time period at a given price

producers wish they could sell at a higher price

producers plan to sell during a given time period at a given price

people are willing to buy during a given time penod at a given price

In the book market, the supply of books will decrease if any of the following occurs except

a decrease in the number of book publishers

a decrease in the price of the book

an increase in the future expected price of the book

an increase in the price of paper used

An increase in the number of sellers of bikes will increase the

The price of a bike

Demand for bikes

The supply of bikes

Demand for helmets

If price of computers increases by 10% and supply increases by 25%. The elasticity of supply in

2.5

0.4

(-)25

(-)04

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