Expension of supply: price rises:: contraction of supply

1.	Expension of supply: price rises:: contraction of supply
Answer» ANSWER: Extension of SUPPLY and contraction of supply. A rise in supply caused by rise in the PRICE while other factors remaining CONSTANT is called EXPANSION (extension) of supply. A fall in supply caused by fall in price while other factors remaining constant is called contraction of supply.

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Extension of SUPPLY and contraction of supply. A rise in supply caused by rise in the PRICE while other factors remaining CONSTANT is called EXPANSION (extension) of supply. A fall in supply caused by fall in price while other factors remaining constant is called contraction of supply.

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Expension of supply: price rises:: contraction of supply​

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Expension of supply: price rises:: contraction of supply