ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A graph showing the various quantities supplied at each price that might prevail in the market is the market supply arc.

Detailed explanation-2: -A demand curve is a graph showing the quantity demanded at each and every possible price that might prevail in the market at a given time.

Detailed explanation-3: -A supply curve is a graph that shows the quantity supplied at each price. Sometimes the supply curve is called a supply schedule because it is a graphical representation of the supply schedule.

Detailed explanation-4: -A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied.

Detailed explanation-5: -A demand curve represents the relationship between the price of a good or service and the quantity demanded for a given period of time. Typically, as the price rises, the demand falls; as a result, the curve slopes down from left to right.