Explain to the law of supply in details in Hindi by computer Gyan EXPLIAN THE LAW OF SUPPLY IN DETAILS
1. LAW OF SUPPLY
STATEMENT :-
The law of supply states the other thing remaining constains more of a commodity is supplied at a higheir price and less of commodity is supplied at a lower price.
The law of supply state the functional relationship between the price of product and its supply
The relationship between supply of the product and it’s price is direct in future means if the price increases the supply increas and a price decrease the supply will decrease
The elements of the other things remain some that the determinaints other then price of the product will remain same
2. SUPPLY SCHEDULE
MEANING :-
the supply schedule is tabular representation quantities supplied at diffrence price
By putting the quantities supplied at different price of commodity. We get supply schedule
3. SUPPLY CURVE
MEANING :-
when supply schedule reprasents diagrammatically it is shows as supply curve.
SHOW :-
the supply curve show various attractive price quantities combinations. it show the quantities of a product wich the supplier would supply at difrent price under the assumptions of law of supply.
On supply curve the OX axis show the quantity on the product supplied and OY Axis show the price of the product.
The supply price relationship is supply by SS’ curve known as supply curve.
4. CHARACTERISTICS OF THE LAW OF SUPPLY
RELATIONSHIP :-
there is direct relationship between the price of the product and is quantity supplied means with increases in price supply increase and with decreases in price supply decreases
VARIABLE :-
price is independent variable while supply is dependent variable
CAUSTIVE FACTER :-
means it’s the price with affect supply , supply is not affacting price
OTHE FACTER :-
the law of supply assumes that other facter except price remain constaint
5. EXCEPTION TO THE LAW OF SUPPLY
EXPECTATION ABOUT FUTURE CHANGE IN PRICE :-
Is the seller anticipate that the price of a particular commodity is going to fall in future then in other to avoid future losses in price does not lead to decrease in supply.
RARE ARTICLES :-
The law of supply does not apply in case of rare articles coins stamps historical documents, autographs of historical leaders etc.
The supply of rare articles is fixed so even if the prices are increasing the supply of such articles will not increase.
COMMODITIES WHOSE SUPPLY IS FIXED IN SHORT RUN (PERIOD) :-
There are certain a commodity whose supply is fixed is short run. Their supply cannat be increased or decreases in short run.
Example : Vegetables, fruits, milk, flowers etc.
Even though increase or decrease in price of such commodities will not having much effect on supply of such commodities.
SUPPLY OF LABOR :-
Law of supply does not apply to the facter of production like labor.
Increase in the labor means wage retes result is increases in supply of labor becouse workers will work for more hours to get extra money. But after a certain point they would prefer leisure so, increase in price of labor leads to increase in supply of labor up to certain point. Beyond which the supply of labor does not increase.
6. ASSUMPTIONS OF THE LAW OF SUPPLY
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