Download App

Supply — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsSupply2 Marks
Question
What is supply function? Write equation of supply curve.
✓

Answer

  • Supply function explains the functional relationship between supply and factors affecting the supply. It can be explained through following equation.
  • $S = f (Px, T, Pf, Pe, U.)$
  • Where, $Sx =$ Supply of the commodity,
  • $Px =$ Price of commodity,
  • $T =$ Level of Technology
  • $Pf =$ Price of factors of production,
  • Pe $=$ Rumours about future price
  • $U =$ Other factors.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "2 Marks Each" from Supply→Supply — all question types→Economics STD 11 Commerce question papers→Gujarat Board STD 11 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Mention the characteristics of oligopoly.
→
What is the nature of ancient India ?
→
Why can supply be more than production, but can not be more than stock?
→
Which main services are provided by Local self government organization ?
→
What is equilibrium market price ?
→
What is Deficit Budget ?
→
Who publishes Human Development Report? Which points are included in $HDI?$ What is the performance of India in $HDI?$
→
"Current fiscal deficit and Primary deficit terms have become more important."- Explain.
→
What is law of demand?
→
What is Budget ?
→