ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A supply schedule is a table that shows the quantity supplied at each price. 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-2: -The supply schedule is a graph that shows you how many products are demanded from customers at a specific price based on the supply curve. The supply curve can show if an increase in your price will increase the company’s willingness to produce a product.

Detailed explanation-3: -A supply curve is a graph that shows how a change in the price of a good or service affects the quantity a seller supplies. Price is listed on the vertical y-axis, while quantity supplied is listed on the horizontal x-axis.

Detailed explanation-4: -One can use the supply schedule to do this: for a given price, find the corresponding quantity supplied for each individual supply schedule and then sum these quantities to provide a group or aggregate supply. Plotting the summation of individual quantities per each price will produce an aggregate supply curve.

Detailed explanation-5: -Supply is the relationship between the quantity supplied and the price of the good when all other influences on selling plans remain the same. A supply curve is a relationship between two, and only two, variables: quantity supplied on the horizontal axis and price on the vertical axis.