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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.
Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false.
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'A'. Can you explain this answer?
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Direction: In the following questions, a statement of Assertion (A) i...
When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases.
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Direction: In the following questions, a statement of Assertion (A) i...
Assertion (A): The supply curve of a good shifts to the right when prices of other goods fall.
Reason (R): When the price of other goods falls, it becomes less profitable to produce them in place of the given good.
Explanation:
The supply curve represents the relationship between the quantity of a good that producers are willing and able to sell at different prices. It is upward sloping, indicating that as prices increase, producers are willing to supply more of the good.
Reasoning for Assertion (A): When the prices of other goods fall, it can lead to a decrease in the profitability of producing those goods. This creates an incentive for producers to shift their resources towards the production of the given good, as it becomes relatively more profitable compared to other goods. As a result, the supply of the given good increases, causing the supply curve to shift to the right.
Reasoning for Reason (R): The reason provided in Reason (R) correctly explains why the supply curve of a good shifts to the right when prices of other goods fall. As producers find it less profitable to produce other goods, they redirect their resources towards the production of the given good, leading to an increase in its supply.
Conclusion: Both the Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A). Therefore, option 'A' is the correct answer.
Key Points:
- The supply curve represents the relationship between the quantity of a good that producers are willing and able to sell at different prices.
- When the prices of other goods fall, it becomes less profitable to produce them.
- This creates an incentive for producers to shift their resources towards the production of the given good.
- The increase in the supply of the given good causes the supply curve to shift to the right.
Reason (R): When the price of other goods falls, it becomes less profitable to produce them in place of the given good.
Explanation:
The supply curve represents the relationship between the quantity of a good that producers are willing and able to sell at different prices. It is upward sloping, indicating that as prices increase, producers are willing to supply more of the good.
Reasoning for Assertion (A): When the prices of other goods fall, it can lead to a decrease in the profitability of producing those goods. This creates an incentive for producers to shift their resources towards the production of the given good, as it becomes relatively more profitable compared to other goods. As a result, the supply of the given good increases, causing the supply curve to shift to the right.
Reasoning for Reason (R): The reason provided in Reason (R) correctly explains why the supply curve of a good shifts to the right when prices of other goods fall. As producers find it less profitable to produce other goods, they redirect their resources towards the production of the given good, leading to an increase in its supply.
Conclusion: Both the Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A). Therefore, option 'A' is the correct answer.
Key Points:
- The supply curve represents the relationship between the quantity of a good that producers are willing and able to sell at different prices.
- When the prices of other goods fall, it becomes less profitable to produce them.
- This creates an incentive for producers to shift their resources towards the production of the given good.
- The increase in the supply of the given good causes the supply curve to shift to the right.
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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?
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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): The supply curve of a good shift to the right when prices of other goods fall.Reason (R): When price of other good falls, it becomes less profitable to produce them in place of the given good.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.
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