1.

Give economic terms.1. Creation of utility. 2. Outcome of the process of production.3. Total quantity available with the producer for sale at time. 4. Sum total of individual supply. 5. Cost incurred on fixed factors like land, machinery etc. 6. Minimum price below which a seller will not sell a single unit. 7. Expansion and contraction of supply due to change in price. 8. Rise in supply due to fall in taxes. 9. Fall in supply due to fall in taxes. 10. Cost incurred on variable factor like raw material. 11. Net revenue earned by selling an additional unit.

Answer»

1. Production 

2. Output 

3. Stock 

4. Market Supply 

5. Fixed Cost

6. Reservation Price 

7. Variation in Supply 

8. Increase in Supply 

9. Decrease in Supply 

10. Variable Cost 

11. Marginal Revenue



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