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Supply by definition: those quantities of goods and services that are produced to meet consumer's "demand" at a given price and at a given point in time;
the "law" of supply simply states that supply shows the relationship between quantities supplied and and the quantity a firm is willing to supply!
pricing determinants:
# that as price rises more quantities are supplied (there is an extension in quantities supplied / a movement along the supply curve); # while the converse is true i.e. as price falls quantities supplied fall (contract); non price determinants: e.g. technology, weather, etc.
when non-pricing determinants of supply influence supply there are shifts in the supply curve!
for e.g. where weather conditions are favourable supply of agricultural production will increase and as such there will be an increase in quantities supplied i.e. a rightward shift in the supply curve; the converse is true
What else can I help you with?
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
Explain the law of supply in your own words?
Law of supply: If demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads etc
Define supply curve?
It is a graphical depiction of the supply schedule that illustrates that relationship between the price of a good and the quantity supplied.
The law of supply implies that the supply curve is?
Upward-sloping
What causes supply to grow as price rises?
law of supply
Law of demand and supply?
Consumers is the law of supply and demand.
What is a word meaning supply oxygen to?
The word used to define "to supply oxygen to" is oxidate.
Can law be define within law?
Yes, law can be defined within law. The law states rules and regulations, thus defining itself. Take a person for example. You can define who they are by what they project and their personality.
What According to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
Where can one find information regarding the law of supply?
The law of supply is a fundamental principle of economic theory. One can find information about the law of supply on various websites like Wikipedia and Investopedia. These sites provide a lot of information regarding the law of supply.
Define de jure segregation?
Segregation that is imposed by a law !!!!!!!!!!!!!
Define an implied term in contact law?
==
Define competition as it relates to the survival of organism?
the short supply in the environment
Explain the law of supply in your own words?
Law of supply: If demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads etc
Define supply curve?
It is a graphical depiction of the supply schedule that illustrates that relationship between the price of a good and the quantity supplied.
The law of supply implies that the supply curve is?
Upward-sloping
