CPT Chapter Supply
With Bharat Galani.Duration:1hrs 37min
| Supply | Duration (min:sec) |
| What is Supply? | |
| Introduction | 01:04 |
| What is Supply | 12:09 |
| What Determines Supply | 16:03 |
| Law of Supply | 04:57 |
| What is change in supply vs. quantity supplied | 09:22 |
| Difference Supply vs. Quantity supplied | 01:12 |
| Summary | 00:52 |
| Elasticity of Supply | |
| What is Elasticity of Supply | 03:12 |
| Calculating Elasticity of Supply | 07:00 |
| Interpretation on Elasticity Number | 11:35 |
| Other ways of measuring Elasticity of Supply | 04:39 |
| Summary | 04:00 |
| Equilibrium Price | 10:48 |
| Quiz | 08:21 |
| Conclusion | 02:02 |
| Total | 1:37:16 |
Notes
Index
What is Supply
What Determines how much is supplied
Law of Supply
Increase or Decrease in Supply
Increase or Decrease in Qty Supplied
Elasticity of Supply
Market Price
What is Supply
Definition:-
Producers are willing and able to offer At various price During a given time
Properties:-
1. Suppy is “Offer for Sale” not Actual Sale
2. Supply is a “Flow Concept” not a Stock Concept
Eg. Profit & Loss Account vs Balance Sheet
What Determines Supply
Price of the goods
Price of Related Goods
Price of factors of production
State of technology
Government Policy
Other factors
Measurement of Supply Elasticity
Point- Elasticity
Arc- Elasticity
Few questions-
If the supply of a commodity is perfectly elastic, an increase in demand will result in :
(a)Decrease in both price and quantity at equilibrium
(b)Increase in both price and quantity at equilibrium
(c)Increase in equilibrium quantity, equilibrium price remaining constant
(d)Increase in equilibrium price, equilibrium quantity remaining constant
When change in the quantity supplied is proportionate to the change in the price, the producer is said to have_______:
(a)Perfectly elastic supply
(b)Relatively elastic supply
(c)Unitary elastic supply
(d)Perfectly inelastic supply
Expansion in supply refers to a situation when the producers are willing to supply a :
(a)Larger quantity of the commodity at an increased price
(b)Larger quantity of the commodity due to increased taxation on that commodity
(c)Larger quantity of the commodity at the same price
(d)Larger quantity of the commodity at the decreased price
When supply is perfectly inelastic, elasticity of supply is equal to :
(a)+ 1
(b) 0
(c).1
(d)Infinity
Short run price is also called by the name of______.
(a)Market price
(b)Showroom price
(c)Maximum retail price
(d)None of these.
When Supply Curve shifts to the right there is_______in Supply.
(a)An increase
(b)Expansion
(c)Contraction
(d)Decrease
Conclusion-
What is Supply
What Determines how much is supplied
Law of Supply
Increase or Decrease in Supply
Increase or Decrease in Qty Supplied
Elasticity of Supply
Market Price
CPT Exam Exposure