Supply Analysis - 1

When supply curve is upward sloping, it’s slope is..............

• positive

• negative

• first positive, then negative

• zero

Other factors remaining constant, when less quantity is supplied only due to a fall in price, it shows _____.

• Contraction of supply

• Decrease in supply

• Expansion in supply

• Increase in supply

Expansion of supply : Price rises :: Contraction of supply: _______

• Price expands

• Price falls

• Price contracts

Total cost : TFC + TVC :: Average cost : _____

• TC ÷ TQ

• TQ ÷ TC

• TC x TQ

Cost incurred per unit of output - ______

• Fixed cost

• Marginal cost

• Average cost

Find the odd word :

• Paintings

• Old coins

• Perishable goods

• Antique goods

Stock : Reservoir concept :: Supply : ____

• Source concept

• Universal concept

• Flow concept

Labour supply curve slopes _____.

• Upward

• Downward

• Forward

• Backward

MRn = ______

• TRn-1– TRn

• TRn – TRn-1

• MRn – TRn-1

An upward movement along the same supply curve shows………..

• Contraction in supply

• Decrease in supply

• Expansion in supply

• Increase in supply