Supply

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Supply

By Bharat Galani MeraSkill.com Š MeraSkill

Supply

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Index What is Supply What Determines how much is supplied Law of Supply Increase or Decrease in Supply Increase or Decrease in Qty Supplied Elasticity of Supply Market Price Š MeraSkill

What is Supply Definition:Producers are willing and able to offer At various price During a given time Properties:1. Suppy is “Offer for Sale” not Actual Sale 2. Supply is a “Flow Concept” not a Stock Concept Eg. Profit & Loss Account vs Balance Sheet © MeraSkill

What Determines Supply Price of the goods Price of Related Goods Price of factors of production State of technology Government Policy Other factors Š MeraSkill

Law of Supply

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Law of Supply Supply and Price - Direct Relationship

Other things remaining constant, the quantity of a good produced and offered for sale will increase as the price of the good rises and decrease as the price Š MeraSkill falls.

Increase or Decrease in Supply vs Increase or Decrease in Quantity Supplied

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Increase or Decrease in Supply

Shift of Supply curve Š MeraSkill

Normally affected by Natural Calamities

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