Meaning of Supply .
Supply.... In common sense, supply is same as sale. Quantity sold is said to be quantity supplied. But in economics, quantity oa a particular commodity that would be offered for sale at all possible prices during a particular period of time is called supply. The term ' offered for sale' means ability to sale and willingness to sale. Both are most essential to be a supply. Determinants of Supply... The quantity supplied of a particular commodity either increases or decreases with the passes of time due to change in several factors which are called determinants of supply. Some common determinants which affect the quantity supplied of various commodities are as follows: 1. Price of goods and services : Price of the commodity is considered as main determinant of the quantity supplied in the market. Other things being equal, when price rises, supply also rises and vice versa. 2. Price of related commodities : In case of substitute goods, when the price of a comm...