20. OUT PUT
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supply
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1.
Meaning
Out put refers to the total
production of particular commodity during a given period of time.
2.
Equation
Output can be expressed as O = f
(I).
3.
Dependence
Out put depends upon the level
of investment, and other factors of production.
4.
Basis
Total output forms the basis of
stock and supply of the seller.
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Supply refers to the quantity of
a commodity offered for sale at a given price and at a given time and place.
Supply can be expressed as S = f (stock).
Supply
depends upon the level of stock and the price.
Total Supply forms the basis of quantity
offered for sale in the market.
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OUT PUT SUPPLY
