Assertion Reason MCQs of Supply Microeconomics Class 11

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Looking for Assertion Reason MCQs of supply chapter with answers and explanation of Microeconomics class 11 CBSE, ISC, and other State Boards.

Assertion Reason Multiple Choice Questions of supply with answers of Microeconomics class 11

Let’s Practice

Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): An individual supply curve slope upwards.

Reason (R): There exists a positive relationship between price and quantity supplied.

Alternatives:

a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True

Ans – a)

Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): Contraction in supply leads to a downward movement along the same supply curve.

Reason (R): Downward movement along the same supply curve occurs due to an increase in price of the commodity, other factors remaining constant.

Alternatives:

a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True

Ans – c)

Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (R): Law of supply is a qualitative Statement.

Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.

Alternatives:

a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True

Ans – c)

Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): Price Elasticity of Supply is more than one in the case of elastic supply.

Reason (R): Proportionate change in price is more than proportionate change in supply.

Alternatives:

a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True

Ans – b)

Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): In the case of perfectly inelastic supply, the supply curve is a vertical straight line supply curve.

Reason (R): Supply does not change with change in price in case of Es = 0

Alternatives:

a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True

Ans – a)

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