supply
Definition
Total amount of a product (good or service) available for purchase at any specified price. It is determined by: (1) Price: producers will try to obtain the highest possible price whereas the buyers will try to pay the lowest possible price—both settling at the equilibrium price where supply equals demand. (2) Cost of inputs: lower the input price the higher the profit at a price level and more product will be offered at that price. (3) Price of other goods: lower prices of competing goods will reduce the price and the supplier may switch to switch to more profitable products thus reducing the supply.
supply is in the Advertising, Marketing, & Sales and Economics, Politics, & Society subjects.
supply appears in the definitions of the following terms:
interest rate,
second source,
economic obsolescence,
market structure,
foreign exchange rate,
single source procurement,
competitive equilibrium,
voltage,
maximum contaminant level,
economic goods
and
supply appears in these other terms:
money supply,
all time supply,
supply risk,
forward supply contract,
uninterruptible power supply (UPS),
supply chain management (SCM),
inelastic supply,
supply system,
supply shock,
demand and supply
and
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