Principle of Supply.

Agricultural science S.S.S 2 Third term.

Week 8   

Principle of Supply.

Performance objectives.

Students should be able to:

1. State the meaning of supply.
2. State the law of supply
3. List the factors that affect supply movements along the supply curve.

Content           

Principle of Supply.

Supply is defined as the quantity of a commodity that producer is willing and able to offer for sale at a given price over a particular period of time. The quantity offered for sale in the market is known as an effective supply.

The Law of Supply

The law of supply states that there is a direct or positive relationship between the price and the quantity offered for sale.

Conversely, the higher the price, the higher…