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Theory of Supply and Elasticity of Supply
Economics · Chapter 5 · 1. Microeconomic Theory: Supply and Market Mechanism
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Your path through this chapter
Visual lesson Beta
- Part 1: Supply, its Determinants and the Law of Supply16 slides
- Part 2: Shifts and Elasticity of Supply17 slides
Flashcards Beta
30 cards for quick recall of key terms and facts.
Review the cards Step 3: Not startedPractice
76 board-style questions with instant checks: Multiple choice 27, Short answer 20, Long answer 8, Numerical 6.
Practise Step 4: Not startedChapter test Free
Short and long chapter tests in board pattern, with results and analysis.
Step 5: Not started- Chapter test (long) — Theory of Supply and Elasticity of Supply · 40 marks · 100 min
- Chapter test (short) — Theory of Supply and Elasticity of Supply · 20 marks · 50 min
Topics 5
- Meaning of supply; difference between stock and supply
- Determinants of supply and the supply function
- Law of Supply: schedule and curve; market supply curve from individual supply curves; exceptions
- Movement along versus shift of the supply curve
- Elasticity of supply: meaning, degrees, percentage method and geometric method