Supply
Non-Price determinants of supply
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Productivity
The law of supply
What is slope positive?
“price” and “quantity supplied” have a positive relationship; that is, supply will be more when the price is higher.
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As price increases, the quantity of sullpy will increases.
Definition of supply
Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.
Costs of production
Government intervention
Price of related goods
Supply shocks
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Supply shocks are random events that can disrupt the normal supply of goods and services.
In any modern society, government is likely to apply some rules and regulations to even
the most basic of products.
Productivity is a concept closely related to production costs.
The ability of a firm to produce is intimately related to the costs of production.
If the price of a related good increases, the supply of another related good will decrease and have a left shift.
Market Supply
Individual Supply
Individual supply is the supply of an individual producer at each price.
market supply of the individual supply schedules of all producers in the industry.