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- Types of supply in economics include12:
- Short-Term Supply: Inventory immediately available for consumption.
- Long-Term Supply: Considers consumer demand, material availability, capital investment, and macroeconomic conditions.
- Joint Supply: Occurs when the manufacturing of one good results in the byproduct of another good.
- Market Supply: Refers to the total supply of a good or service in the market.
- Composite Supply: Combines different types of supply.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Types of Supply
- Short-Term Supply Short-term supply is the inventory immediately available for consumption. ...
- Long-Term Supply Long-term supply considers consumer demand, material availability, capital investment, and macroeconomic conditions. ...
www.investopedia.com/terms/s/supply.aspSummary
- Supply in economics refers to the number of units of goods or services a supplier is willing and able to bring to the market for a specific price.
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There are five types of supply: market supply, short-term supply, long-term supply, joint supply, and composite supply. Meanwhile, there are two types of supply curves:... See more
The law of supply is a microeconomiclaw. It states that, all other factors being equal, as the price of a good or service increases, the quantity of that good or service that suppliers … See more
The chart below depicts the law of supply using a supply curve, which is upward sloping. A, B, and C are points on the supply curve. Each point on the curve reflects a direct … See more
The law of supply states that a higher price for a good or service will lead producers to supply more of that good or service to the market. This is because businesses want to increase their … See more
The law of supply summarizes the effect that price changes have on producer behavior. For example, a business will make more video game systems if the price of those systems increases. The opposite is true if the price of video game systems decreases. … See more
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WEBLearn what supply is in economics and how it relates to demand, price, and elasticity. Explore the five types of supply: market, short-term, long-term, joint, and composite.
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In economics, supply is the amount of a resource that firms, producers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual. Supply can be in produced goods, labour time, raw materials, or any other scarce or valuable object. Supply is often plotted graphically as a supply curve, with the price per unit on the vertical axis and quantity supplied as a function of price on the horizontal axis. This reversal of t…
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