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Economics 1

concept of supply

takriban dakika 1 kusoma

Mada za sehemu hiiTheory Of Demand And SupplyMada 6
  1. The concept of Demand
  2. The law of Demand
  3. Elasticity of Demand
  4. concept of supply
  5. The law of supply
  6. Elasticity of supply

Concept of supply

Supply means the quantity of goods and services a producer is willing and able to offer for sale in the market at the prevailing price per period of time.

The law of supply states that, "The higher the price the higher the supply and the lower the price, the lower the supply, other factors remaining constant."

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