Law of Supply The quantity supplied, other things remaining equal, varies directly with price. The supply of a commodity increases with ...

Derivation of Market Supply Curve The sum of quantity supplied by all firms in the market at given price is called market supply. When th...

Meaning of Supply Supply like demand is also the function of price. It is expressed as, s = f(p). When the price of a commodity changes,...

Law of Demand The law of demand is one of Alfred Marshall’s many contributions to economic theory. The demand varies inversely with pric...