ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A positive change in supply when demand is constant shifts the supply curve to the right, which results in an intersection that yields lower prices and higher quantity. A negative change in supply, on the other hand, shifts the curve to the left, causing prices to rise and the quantity to decrease.

Detailed explanation-2: -A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.

Detailed explanation-3: -When a new technique of production reduces the cost of production, the supply curve shifts to the right. Improvement in technology reduces the cost of production per unit and increases the profit margin of producers. Hence the supply increases and shifts the curve to the right.

Detailed explanation-4: -Technological advances that improve production efficiency will shift a supply curve to the right. The cost of production goes down, and consumers will demand more of the product at lower prices. Computers, televisions and photographic equipment are good examples of the effects of technology on a supply curve.