The supply of a good refers to:

Supply is the

Elasticity of supply is zero means

Elasticity of supply is greater than one when

In a very short period market:

What causes a downward movement along a supply curve?

What causes an upward movement along the supply curve of a commodity?

Price elasticity of supply of a good is 0.8. Is the supply 'elastic' or 'inelastic', and why?

What is meant by perfectly elastic supply of a commodity?

Does a change in producers' technology lead to a movement along the supply curve or a shift in the supply curve? Does a change in price lead to a movement along the supply curve or a shift in the supply curve?

Consider a market with two firms. In the following table, columns labelled as SS₁ and SS₂ give the supply schedules of firm 1 and firm 2 respectively. Compute the market supply schedule.

How does an increase in price of an input affect the supply curve of a firm?

How does an increase in the number of firms in a market affect the market supply curve?

What is the supply curve of a firm in the short run?

Differentiate between decrease in supply and contraction in supply (decrease in quantity supplied).

The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why? 

As a result of fall in price of the commodity by 10%, the quantity supplied also falls 15%. Comment on PES.

The price of a commodity is Rs.10 per unit and its quantity supplied at this price is 500 units. If its price falls by 10 per cent and quantity supplied falls to 400 units, calculate its price elasticity of supply.

Distinguish between change in quantity supplied and change in supply. Use diagram.