ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What Is a Supply Curve? The supply curve is a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period.

Detailed explanation-2: -Answer and Explanation: A supply schedule is a chart or table that shows how much of a good a supplier will offer at different prices.

Detailed explanation-3: -Supply is the amount of a product that would be offered for sale at all possible prices in the market. That means the amount a producer will offer when the price is: $1, $2, $5, $100, $1000, etc. The Law of Supply states that suppliers will normally offer more for sale at higher prices and less at lower prices.

Detailed explanation-4: -A supply curve is a graph that shows the quantity supplied at each price. Sometimes the supply curve is called a supply schedule because it is a graphical representation of the supply schedule.

Detailed explanation-5: -Market Supply Schedule: Market supply schedule is a tabular statement of the various quantities of the product that all the suppliers in the market are willing to supply at various price levels during a specific time period.