Supply Schedule.docx

Supply schedule Supply schedule has been the tabular depiction of relationship within the price along with quantity supplied, represented graphically like the supply curve. Law of supply has been the fundamental principle of the economic theory that states that, all else similar, the increment in the price outcomes in the increment in the quantity supplied. In other terms, there has been the direct relationship between prices along with quantity: quantities respond in similar direction as the price changes. Want Want has been the good/service desired by the customer, which has not been needed to sustain life. Demand has been quantity of the good/service, which the consumers have been willing and capable to purchase at the range of prices. When customer has been willing along with capable to buy the need or want, they have been considered to have demand for that need or want.