Define the term supply, Microeconomics

Assignment Help:

Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will be offered for sale at various prices. To be more correct supply of commodity is the schedule of the quantities of a commodity that would be offered for sale at all possible price during a period of time for example a day a week a month and so on.

Supply should be carefully distinguished from stock is the total volume of a commodity which can be brought into the market for sale at a short notice and supply means the quantity which is actually brought in the market. For perishable commodities like fish and fruits supply’ and stock are the same because whatever is in stock must be disposed of. The commodities which are no perishable can be held back if prices are not favorable. If the price is high larger quantities of non-perishable commodities are offered by the sellers from their stock. And if the price is low only small quantities are brought out for sale in short stock is potential supply.


Related Discussions:- Define the term supply

What is economics about, What is economics about? Economics: Economi...

What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like

Microeconomics and the market system, Suppose you are a painter, and the pr...

Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon t $3.50 a gallon. Your usage of paint drops from 35 gallons to 20 gallons a month. 1. Co

Human numbers grew as the population after 1800, Human numbers grew as the ...

Human numbers grew as the population after 1800 After 1800, human numbers grew as the population explosion took hold. It carried our entire population to 6 billion in October 1

Brief answer, what is ''Prisoner''s Dilemma'',of non-cooperative game?estio...

what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..

What is modern economics, What is Modern Economics? Modern Economics: ...

What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo

Tropospheric pollution or Air pollution, Air is one of the important consti...

Air is one of the important constituent in the environment that is prone to pollution. Pollution of air refers to that part of atmosphere which is very nearest to the earth’s surf

Monopoly help, Monopoly and Oligopoly help?!? 1. Your firm sells a perfume....

Monopoly and Oligopoly help?!? 1. Your firm sells a perfume. The daily demand for your perfume estimated by your economists is given by P=150-5Q Your marginal cost is constant at $

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd