Write the source of the supplies of these commodities
Answers
Explanation:
In economics, supply during a given period of time means, the quantities of goods which are offered for sale at particular prices. The supply of a commodity is the amount of the commodity which the sellers or producers are able and willing to offer for sale at a particular price, during a certain period of time.
Explanation:
1. Stock is the Determinant of Supply:
Supply is what the seller is able and willing to offer for sale. The ability of a seller to supply a commodity depends on the stock available with him. Thus, stock is the determinant of supply. Supply is the amount of stock offered for sale at a given price. Therefore, stock is the basis of supply. Without stock supply is not possible.
2. Stock Determines the Actual Supply:
Actual supply is the stock or quantity actually offered for sale by the seller at a particular price during a certain period. The limit to maximum supply, at a time, is set by the given stock. Actual supply may be a part of the stock or the entire stock at the most. Thus, the stock can exceed supply but supply cannot exceed the given stock at a time.
3. Stock can be said as the Outcome of Production:
It is very common to understand that by increasing production as well as the potential supply, the stock can be increased. Sometimes, an increase in the actual supply can exceed the increase in current stock, when along with the fresh stock, old accumulated stock is also released for sale at the prevailing price.
In this way, supply can exceed the current stock, but it can never exceed the total stock (old + new stock taken together) during a given period