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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 …

It is the amount of a commodity that sellers are able and willing to offer for sale at different prices per unit of time. In the words of Meyer: “Supply …

The demand curve generally slopes downward from left to right. It has a negative slope because the two important variables price and quantity work in opposite direction. As the price …

Factors causing Changes in Demand/ Determinants of Demand: While explaining the law of demand, we have stated that, other things remaining the same (ceteris paribus), the demand for a commodity …

Market demand curve for a commodity is the horizontal sum of individual demanded curves of all the buyers in a market. This is illustrated with the help of the market …