2. SUPPLY
SUPPLY- It is the quantity of goods & services that
producers are willing & able to supply on to the market at a
given price in a given time.
SUPPLY CURVE- It is the upward sloping line relating
price o quantity supplied.
6. Changein Supply
A shift in the supply curve either left or right
Caused by change in determinants other than price of the
product
• Input price
• Technology
• Price of other goods
• Govt. policy
• Expectation of sellers
• Natural condition