Chapter 10 of 24
Revision Notes
Supply — Revision Notes
NIOS · Class 10 · Economics
Supply revision notes for NIOS Class 10 Economics: 4 topics in quick points. Part of the NIOS Class 10 Economics syllabus.
43 questions34 flashcards5 concepts
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Key Topics to Revise
1
Meaning of Supply
- Supply is different from mere availability in the market.
- A commodity may be available, but that does not automatically mean it has been supplied.
- Supply includes three elements: quantity, price, and time period.
2
Stock and Supply
- Stock is the total quantity of a commodity available with a seller or firm at a particular point of time.
- Supply is that part of stock that the seller is ready to sell at some given price during a given time period.
- Stock is measured at a point of time, while supply is measured over a period of time.
3
Factors Affecting Individual Supply
- The six factors affecting individual supply are price of the commodity, technology of production, price of inputs, price of other related goods, objective of the firm, and government policy.
- Higher price of a commodity usually increases supply because revenue rises.
- Improved technology reduces cost of production per unit and increases supply.
4
Individual Supply Schedule and Supply Curve
- Individual supply means supply by a single firm.
- An individual supply schedule is a tabular presentation of different quantities supplied at different prices.
- For X Ltd., sugar supply rises from 8 quintals at Rs.2800 to 15 quintals at Rs.3200 per quintal.
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Full NotesKey Concepts
Supply is the quantity ofStock is the total quantity availableIndividual supply is the supplyThe main factors are priceAll other factors determining supply remaining
Frequently Asked Questions
What are the important topics in Supply for NIOS Class 10 Economics?
Key topics in Supply include Meaning of Supply, Stock and Supply, Factors Affecting Individual Supply, Individual Supply Schedule and Supply Curve. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How should I revise Supply for the NIOS Class 10 board exam?
Learn the core ideas first, then work through the 43 practice questions on Supply. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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