9th Class Economics Chapter 4 Short Questions Online Test English Medium

Question # 1

Ans 1: Stock typically refers to two main concepts:
1- Inventory: In a business context, stock ofter refers to the inventory of goods or materials that a company holds for the pursoe of resale or use in production. It includes finished goods ready for sale, work in progress, and raw materials
Ans 2: 2- Ownership in a company: Stock can also represent ownership shares in a corporation. When a company decides to raise capital by issuing shares, it divides it ownship into units called shares or stock.

Question # 2

Ans 1: 1- Price of the Goods or Service: The Most significant fator inluencing the quantity supplied is the price of the good or service itself.Generally, as the price increaes, producers are willing to supply more of the product to the market becase it becomes more profitable to do so.
Ans 2: 2- Cost of Production:The cost of producing the good or service, including raw materials, lobor rent ,and other inputs, direcly impacts the quantity supplied.
Ans 3: 3- Technolgical Advacements: Improvements in technology can incresse production efficiency and reduce costs, leadingto an increase in the quanitity supplied, Conversely, outdated orinefficient technology many limit production capacity and decrese supply.

Question # 3

Ans 1: "Supply is the quantity of a good sellers wish to sell in the market at a specifict time and price".

Question # 4

Ans 1: Supply referesto the quanity of goods of services that producers are willling and able to offer for sale at different prices withing a given time period. It's a fundamental concept in economics, representing the relationship between the price of a product and the quantity that producers are willing to produce and sell in the market.

Question # 5

Question # 6

Ans 1: Time period is also very important with reference to suply, for example whether it is daily, weekly or monthly, It means that quantity supplied is not determined within some time frame.

Question # 7

Ans 1: In economics, the concept of elasticity is also important just like the elasticiyof demand. The chagne in quantity supplied due to a change in price is called elascicity.

Question # 8

Ans 1: Supply:
* Supply rfers to the quantity of goods or services that producers are willing and able to offer for sale at various prices withing a given time frame.
* It represents the relationship between the price of a product and the quantity that producers are willing to produce and sell in the market.
* Supply is influenced by factors such as production costs, technological advancements, government polices, and expectations about future prices.
Ans 2: Stock:
# Stock typically refers to the inventory of goods or materials that a business holds for the purpose of resals or use in production.
# It includes finished goods ready for sale, work in progress, and raw materials.
# Infinancial context, stock can also refe to ownership shares ina corporation, Each share represents a portion of ownership in the company and shareholders are entitle certain rights and benefits.

Question # 9

Ans 1: As good is demanded at a certain price similarly supply cannot be explained without price. Quanty is always supplied at some specific price.

Question # 10

Ans 1: The supply schedule represent the quantities of a specific good or service that producers are willing to supply to the market at various price level, assuming other factors remain constant. It assentially illustrates the quantity supplied at different prices,providing insight into how producers respond to changes in price.