In this article we will discuss about the law of supply of goods. Supply is the quantity of a good or service which is offered for sale at a given moment and at a given price. Supply does not necessarily comprise the entire stock of any commodity in existence, but only the amount put on to the market at a [...]
In this article we will discuss about the law of supply, explained with the help of a suitable diagram. The quantity of a good that is sent per period to the market for sale at any particular price, is called the quantity supplied of the good. In our discussion of the short-run and long-run supply curves of a perfectly competitive [...]
In this article we will discuss about the exceptions to the law of supply. The law of supply states that if, 'other things' remaining constant, only the price of a good increases or decreases, then, generally, the quantity supplied of the good will also increase or decrease. The significance of the word "generally" in this statement is that in some [...]