ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A smartphone demand may be affected by various factors. The first is convenience, whereby if the smartphone is highly portable and of good quality, it will have high demand. However, if the smartphone is not highly portable and of poor quality, it will have low demand.

Detailed explanation-2: -price will decrease and quantity will increase. The law of supply states that higher price leads to higher quantity supplied. If the supply of cell phones increases, the supply curve will shift in the rightward direction. A higher supply leads to a greater quantity and lesser price.

Detailed explanation-3: -Economic forecasts suggest that the demand for cell phones will increase in the future. What is the effect on supply on what is the factor that affects it? Decrease, expectations; if demand for cell phones is expected to increase in the future, as suppliers will withhold inventory waiting for prices to increase.

Detailed explanation-4: -In India, there are currently over 600 million smartphone users, a number that is expected to increase as more feature phone users switch to smartphones. The market for smartphones in India is likely to be driven by replacement demand from these users in 2023 and beyond.