Extension in supply is the extension of the vendor contract for a longer duration while increase is the increase within the stipulated time.
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In AS/A2 examination economic theory, an increase in demand would normally refer to an increase in the quantity demanded at every price level (i.e. a shift in the "curve"). An extension of demand is an increase in the quantity demanded because the price has changed (usually because supply has shifted) - ie a movement along the demand curve. Sad but true!
no
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
in business
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no
In AS/A2 examination economic theory, an increase in demand would normally refer to an increase in the quantity demanded at every price level (i.e. a shift in the "curve"). An extension of demand is an increase in the quantity demanded because the price has changed (usually because supply has shifted) - ie a movement along the demand curve. Sad but true!
no difference...
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
in business
supply function can be defined as the quantity of a good.
it is so because, there exists a positive relation between price and supply, i.e wen price increase then supply olso tends to increase the same. . .
we have textbooks
the major difference between the two is mercantalism is based around the government and capitalism around the individual. Mercantalism depends on a trading market of exporting more than importing to increase the gold and silver of a country. Capitalism has supply and demand.
One says individual and the other says market!
Increase Supply means to have more of a specific supply on hand.