- Supply is a part of the stock, which is offered for sale at a particular price, at a particular time.
- It should be studied from the manufacturerâ€™s perspective.
- Supply curve always slopes upwards from left to right.
- Supply function represents the relationship between price of a commodity and quantity supplied.
- If supply changes only due to price we denote it as expansion and contraction and if the supply changes due to other factors we denote it as increase and decrease.
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