Supply

Stock is the total quantity

Stock is the total quantity of goods available with a producer that can potentially be sold. Supply is the portion of stock that a producer is actuall

States that when all other factors

States that when all other factors remain constant, as the price of a good increases, its supply increases, and when price decreases, supply decreases

Supply is influenced by

Supply is influenced by: (1) Price of the product - higher prices encourage more supply; (2) Cost of production - lower costs increase supply; (3) Tec

Mathematical representation showing the relationship between

Mathematical representation showing the relationship between supply and its determinants: Sx = f(Px, T, PF, Pe, U), where Sx is supply of good X, Px i

Expansion/Contraction occurs when price changes while

Expansion/Contraction occurs when price changes while other factors remain constant - movement along the same supply curve. Increase/Decrease occurs w