Saturday, July 21, 2018

SUPPLY AND TERMS RELATED TO SUPPLY

WHAT IS SUPPLY?
SUPPLY shows the ability of seller how much goods he can offer to sell at different  prices.
QUANTITY SUPPLY:
The actual amount of goods that the seller is able to sell.
THE LAW OF SUPPLY :
When other things will remain constant
the quantity supplied and price of a commodity will directly proportionate to each other. If price of commodity rises then quantity supplied will also rise.
SUPPLY SCHEDULE :
For showing the relationship between the price of a good and the quantity supplied we make a table which is called SUPPLY SCHEDULE .

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