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Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will be offered for sale at various prices. To be more correct supply of commodity is the schedule of the quantities of a commodity that would be offered for sale at all possible price during a period of time for example a day a week a month and so on.Supply should be carefully distinguished from stock is the total volume of a commodity which can be brought into the market for sale at a short notice and supply means the quantity which is actually brought in the market. For perishable commodities like fish and fruits supply’ and stock are the same because whatever is in stock must be disposed of. The commodities which are no perishable can be held back if prices are not favorable. If the price is high larger quantities of non-perishable commodities are offered by the sellers from their stock. And if the price is low only small quantities are brought out for sale in short stock is potential supply.
differentiate between normative and positive statements in economics with the help of a statement
A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an
The total demand consists of: 1. New owner demand and 2.A replacement demand The replacement demand tends to grow with the in the total stock with the consumers. Once a pe
Suppose that the following equation characterizes the demand for primary education in a developing country X: Q = 100 – 2P Where Q is quantity demanded in years of schooling and
MUa/MUb how it happens? and why this occur?
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
Question: Product differentiation and entry/exit Two differentiated goods, apples and oranges, are located at the two extremes of a linear product space (a segment of length 1)
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
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