Economy, asked by bonnie2, 1 year ago

distinguish between individual supply and market supply

Answers

Answered by TheUrvashi
11
Individual supply is the supply of an individual producer at each price whereas market supply of the individual supply schedules of all producers in the industry
Answered by gratefuljarette
24

Difference between individual supply and market supply:

Individual supply:

  • Individual supply denotes the supply of an individual producer’s commodity which he/she offers for sale in the marketplace for a definite time period for different prices.
  • Individual supply defines the readiness of an individual firm to offer a particular quantity of a commodity or service to the marketplace over a given time period.
  • It is dependent on several different factors such as the product price, production cost, policies and regulations of the government, and so on.

Market supply:

  • Market supply is the supply of different sellers’ commodity which they offer for sale for a definite time period for varied prices.
  • Market supply defines the quantity of a particular commodity or service which all sellers in a market collectively are ready to sell.
  • It denotes the quantity of all individual supplies for a specific commodity or service.

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