ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The supply curve will move upward from left to right, which expresses the law of supply: As the price of a given commodity increases, the quantity supplied increases (all else being equal). Note that this formulation implies that price is the independent variable, and quantity the dependent variable.

Detailed explanation-2: -A rise or fall in the price of the commodity alone causes a movement along the supply curve (ceteris paribus).

Detailed explanation-3: -Understanding Change in Supply An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left. Essentially, there is an increase or decrease in the quantity supplied that is paired with a higher or lower supply price.

Detailed explanation-4: -Movement along the Supply Curve When the supply of a product either increases or decreases due to an increase or decrease in its price (all the other factors remain constant), that change in the quantity of the product supplied is depicted as the movement in Supply Curve.

Detailed explanation-5: -Movement along the Supply Curve This is known as a change in quantity supplied. Graphically it causes movement along the supply curve. A change in price either causes supply curves to expand or contract.