Expert Economics teachers explain Sandeep Garg Class 11 Microeconomics Solutions Chapter 9 Supply from the new version of Sandeep Garg Microeconomics Class 11 textbook solutions. Sandeep Garg Economics Class 11 Solutions are provided by MNS EdTech to provide students with a detailed understanding of the subject.
These insights are a priceless benefit to students when it comes to completing homework or preparing for exams. There are various principles in Economics; however, we at MNS EdTech provide students with a solution from Supply that will help them perform well on their board examinations.
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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