ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -A supply curve demonstrates the relationship between price and the quantity of a product supplied. As competition increases, businesses find greater opportunities for success. As the price of a product increases, businesses will produce more of that product if possible.
Detailed explanation-2: -On most supply curves, as the price of a good increases, the quantity of goods supplied also increases. Supply curves can often show if a commodity will experience a price increase or decrease based on demand, and vice versa.
Detailed explanation-3: -supply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
Detailed explanation-4: -Which of the following is true about a supply curve? It shows the relationship between quantity supplied and income.