Producer's Behaviour
1. _______________ determines the potential supply.
Stock
Demand
Supply
Flow
2. When the price rises, there is _______________ of supply.
decrease
increase
extension
contraction
3. The vertical supply curve represents __________
elasticity.
one
less than one
unit
zero
4. The supply of agricultural goods mainly gets determined
by ______________
government policy
demand for them
climatic conditions
transport facilities
5. The supply curve slopes ______________
downward
upward
backward
vertical
6. The supply curve of labour slopes _____________
downward
upward
backward
vertical
7. The law of supply represents the general tendency of ________________
buyers
sellers
labourers
employee
8. ____________ is the most important determinant of supply.
Price
Technology
Government Policy
Cost of Production.
9. Total Revenue ÷ Number of units sold ______________
Average Revenue
Marginal Cost
Total Cost
Average cost
10. An increase i supply means selling a _____________
amount at the same price.
smaller
larger
constant
less
