Supply and elasticity of supply
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Supply and elasticity of supply

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    Supply and elasticity of supply Supply and elasticity of supply Presentation Transcript

    • Supply And Elasticity Of Supply
      • 1.WHAT IS SUPPLY ?
    • DEFINATION SUPPLY REFERS TO THE QUANTITY OF A COMMODITY A SELLER IS PREPARED TO SELL AT A GIVEN PRICE AND DURING SOME PARTICULAR TIME.
    • FACTORS AFFECTING SUPPLY
      • INDIVIDUAL SUPPLY
      • Commodity’s own price
      • Price of the related goods
      • Goals of the firm
      • State of technology
      • MARKET SUPPLY
      • Number of producer
      • Future expectation of price
      • Taxes and subsidies
      • Natural factors`
      • LAW OF SUPPLY-
      According to law of supply “other things being equal,the supply of a commodity increases with increases in its price and decreases with a fall in price.
    • WHAT IS ELASTICITY OF SUPPLY-
    • DEFINATION- ELASTICITY OF SUPPLY CAN BE DEFINED AS A MEASURE OF DEGREE OF RESPONSIVENESS OF SUPPLY TO CHANGE IN PRICE
    • IN MATHEMATICAL TERMS IT CAN BE MESURED BY- E S =PERCENTAGE OF CHANGE IN QUANTITY SUPPLIED / PERCENTAGE CHANGE IN PRICE
    • THANKS FOR COOPERATING FREINDS