PPT - Law of Supply | Business Economics for CA Foundation PDF Download

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CPT Section C General Economics Chapter 2Unit III  
CA.Janardhan 
Page 2


CPT Section C General Economics Chapter 2Unit III  
CA.Janardhan 
Meaning of Supply 
Determinants of Supply 
Law of Supply 
Extension and Contraction of Supply Curve 
Shift in the Supply 
Elasticity of Supply  
2 
Page 3


CPT Section C General Economics Chapter 2Unit III  
CA.Janardhan 
Meaning of Supply 
Determinants of Supply 
Law of Supply 
Extension and Contraction of Supply Curve 
Shift in the Supply 
Elasticity of Supply  
2 
The term ‘supply’ refers the amount 
of a good or service that the 
producers are willing and able to offer 
to the market at various prices during 
a period of time.  
3 
Page 4


CPT Section C General Economics Chapter 2Unit III  
CA.Janardhan 
Meaning of Supply 
Determinants of Supply 
Law of Supply 
Extension and Contraction of Supply Curve 
Shift in the Supply 
Elasticity of Supply  
2 
The term ‘supply’ refers the amount 
of a good or service that the 
producers are willing and able to offer 
to the market at various prices during 
a period of time.  
3 
The supply refers to what firms offer for sale, 
not necessarily to what they succeed in 
selling 
Supply is a flow 
4 
Page 5


CPT Section C General Economics Chapter 2Unit III  
CA.Janardhan 
Meaning of Supply 
Determinants of Supply 
Law of Supply 
Extension and Contraction of Supply Curve 
Shift in the Supply 
Elasticity of Supply  
2 
The term ‘supply’ refers the amount 
of a good or service that the 
producers are willing and able to offer 
to the market at various prices during 
a period of time.  
3 
The supply refers to what firms offer for sale, 
not necessarily to what they succeed in 
selling 
Supply is a flow 
4 
The supply schedule and the curve 
are prepared and drawn on certain 
assumptions 
• The factors which are likely to ‘change’ the 
supply should be kept constant 
• The determinants of supply, except the 
price factor, have been kept constant 
5