Economics

The cobweb model or cobweb theory is an economic model that explains why prices might be subject to periodic fluctuations in certain types of markets. It describes cyclical supply and …

All agricultural markets, livestock markets as susceptible to seasonal variation. Fresh milk prices fluctuate in the same way as food crop prices which are moving inversely with supply on the …

When the supply of the commodity rises or falls due to non-price determinants, the supply is said to have increased or decreased supply. The increases or decrease or rise or …

Supply responds to change in prices differently for different goods, depending on their elasticity or inelasticity. If goods are elastic then a modest change in price leads to a large …

Limited Supply: There are some rare things the supply of which is limited and inelastic. In this case if price increase supply cannot be increased. Such as the picture of …

(i) Nature of Goods. If the goods are perishable in nature then the saler cannot wait for the rise in price. Seller may have to offer all of his goods …

The law of supply is based on a moving quantity of materials available to meet a particular need. Supply is the source of economic activity. Supply, or the lack of …

The market supply data of the commodity X as shown in the supply schedule is now presented graphically.                         …

The supply function is now explained with the help of a schedule and a curve. Supply Schedule of a commodity: Price per unit (Px) 5 4 3 2 1 Quantity …

Definition of Law of Supply: There is a direct relationship between the price of a commodity and its quality offered for sale over a specified period of time. When the …