class 12 microeconomics Supply and law of supply very important notes
Supply and law of supply ....... short and easy notes for board exam. 1. What do you mean by supply? Difference between supply and stock? > The supply of goods is that quantity which offered for sale in a given market at a certain time at various price. If the seller is ready to sell at given price and at a given time is called supply. Following are the difference between supply and stock; Supply; Supply is that quantity in which seller is ready to sell at a given price and at a given time. Supply is the part of stock. Supply will be lower than stock or equal to stock. Stock; Stock is that country which is available with the seller. Stock is whole quantity of the goods. Stock is higher than supply or equal to supply. For perishable goods there is no difference between stock and supply. 2. Write the factors affecting the supply or write the supply function. > Functional relationship between supply of a commodity and its determining factor is called supply function....