SUPPLY PROCESS

2.  Supply of the goods refers to the
various quantities of the goods
which a seller is willing and able to
sell at different prices in a given
market at a particular point of time,
other things remaining the same.

3.  “The supply of the goods is the quantity
offered for sale in a given market at a given
time at various prices.”
- by: THOMAS
 “Supply refers to the amounts of goods that
producer in a given market desires to sell,
during a given time period at various prices,
ceteris paribus.”
-by: SAMUELSON

4. Price of the goods.
Prices of other goods.
Prices of the factors of the
production.
State of technology.

5.  The law of supply states that
other things remaining
constant, more of the goods is
supplied at a higher price and
less of it is supplied at a
lower price.

6.  “Law of supply states that other things being
equal, the higher the price, the greater the
quantity supplied or the lower the price, the
smaller the quantity supplied.”
-by: DOOLEY
“The law of supply states that other things being
equal, the quantities of any commodity that
firms will produce and offer for sale, are
positively related to the commodities own price,
rising when price rises and falling when price
falls.”
-by: LIPSEY

7.  Supply of labour.
 Agricultural products.
 Artistic goods.
 Goods of auction.
 Hope of change in the prices of
commodities in near future.

8.  The table below shows, for each price, the
quantity of bread that manufacturers want to
produce and sell.
 Supply schedule of bread
PRICE
(Rs. Per packet)
Quantity supplied
(millions of packets per year)
A 50 18
B 40 16
C 30 12
D 20 7
E 10 0

9. 0
10
20
30
40
50
60
5 10 15 20 25
price of bread