What is supply? What are the factors affecting supply of a commodity?

Q: Which situation best illustrates an effect of the law of supply?

A: Micro economics refers to the branch of economics that deals with individuality instead of the…

Q: (Supply) What is the law of supply? Give an example of how you have observed the law of supply at…

A: In economics, the idea of supply is complicated, with several mathematical formulas, practical…

Q: Would you expect supply to play a more significant role in determining the price of a basic…

A: Demand for a necessity good is inelastic because a change in it's price, brings about less than…

Q: Distinguish between the change in the quantity supplied and the change in the supply

A:

Q: What are the supply schedule and the supply curve, and how are they related? Why does the supply…

A: Supply Schedule is a tabulated representation of prices and quantity supplied by the individual firm…

Q: What is a supply table? How do you obtain a supply curve from a supply table?

A: Supply table is a schedule or a tabular statement which gives different quantity supplied of a good…

Q: How does one analyze a market where both demand and supply shift?

A:

Q: What are the theories of supply?

A: At a given market price, a specific quantity of products offers to sell by the firm is known as the…

Q: Explain what causes changes in supply and quantities supplied

A: Answer: Introduction: Change in supply: Change in 'supply' takes place due to changes in other…

Q: Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, what…

A: The pairs of goods that are used together are known as complementary goods, therefore if the price…

Q: Explain how the equilibrium, or market, the price of a product is examined.

A: Equilibrium is known as the state of balance, the state of rest from where there is no tendency to…

Q: How Demand and Supply Establish Prices?

A: Supply and demand is an economic model for determining the price of goods and services. Demand for a…

Q: Could you explain the law of supply to me

A: The law of supply shows a positive relationship between the price and the quantity supplied of a…

Q: What is Supply

A: Supply: - in economics, the supply is the amount of a good or service available for sale in the…

Q: Would you expect supply to play a more significant role in determining the price of a basic…

A: Supply plays a more significant role in determining the price of basic necessity goods. As necessary…

Q: What causes a change in the quantity supplied? Graph a supply curve and show a change in quantity…

A: When supply changes with respect to its own price mentioned other factors being ceterus paribus then…

Q: What would cause a decrease in quantity supplied?

A: The change in qty supplied is caused onle due to change in prices of that goods ie. Law of supply is…

Q: Explain the law of supply and demand? What happens to price ?

A: In a market, demand and supply refer to the primary economic concept that explains the connection…

Q: According to the LAW OF SUPPLY, when the price of a product increases producers will. O Produce More…

A: The supply in the market demonstrates the different magnitude of the total quantity of the commodity…

Q: How would you explain the law of supply and demand in simple terms?

A: Law of supply and law of demand are two fundamental concepts in economics.

Q: At a given quantity supplied, what does the supply curve show?

A: Supply refers to the complete amount of a particular product or service that is available to…

Q: What is the relationship between price and quantity supplied along the supply curve? Along the…

A: The amount of a resource that firms, producers, laborers, financial asset providers, or other…

Q: What is the equilibrium price and the equilibrium quantity?

A: The equilibrium price is the market cost where the amount of products provided is equivalent to the…

Q: How does the law of supply and demand work?

A: Law of demand When price is less,quantity demanded is more. When price is more,quantity demanded is…

Q: Does a huge supply of a product lower or higher the price of a product?

A: Supply and demand is an economic model of price determination in a very market. It concludes that in…

Q: What will happen to the equilibrium price and quantity of oranges?

A: There is some relationship between orange and grapefruit.

Q: Illustrate by graph the equilibrium point in the market, then find the following: (Notes that you…

A: The interaction of the forces of demand and supply determines the equilibrium price and quantity of…

Q: WHEN DO YOU SAY THAT THERE IS EXCESS SUPPLY FOR A COMMODITY IN THE MARKET?

A: According to the given question  Excess supply - Generally a market surplus duly occurs when there…

Q: What would cause an increase in quantity supplied?

A: The change in qty supplied is caused only due to change in price of that good i.e. Law of supply…

Q: What is the Supply Schedule and the Supply curve, and how are they related?

A: Supply is a fundamental concept of economics which describes the total amount of a specific service…

Q: The law of supply states that there is a positive relationship between the price of a good and the…

A: The law of supply states that quantity supplied of a good is positively related with the price of…

Q: Write an examples of a product or service demanded in the United States by applying the theory of…

A: The law of market demand and supply is a financial hypothesis that clarifies how market supply and…

Q: Does the change affect supply? If so, does supply increase or decrease?

A: Supply refers to the total units of output a producer is willing to sell at the existing price…

Q: What is Supply? How about quantity supplied?

A: Supply and quantity supplied may sound the same but actually are very different concepts, having…

Q: What does the law of supply say about the relationship between price and quantity supplied?

A: Supply refers to the quantity supplied by producer in the market. Supply influences by various…