theory of supply

theory of supply

the body of theory concerned with the determinants of the market SUPPLY of GOODS and SERVICES, and the effects of market supply (together with market demand) on the prices and quantities transacted of particular goods and services.

See SUPPLY FUNCTION, SUPPLY CURVE, SUPPLY CURVE ( SHIFT IN), MARGINAL PHYSICAL PRODUCT, COST FUNCTION, MARGINAL REVENUE PRODUCT, DIMINISHING RETURNS, ECONOMIES OF SCALE, ELASTICITY OF SUPPLY, EQUILIBRIUM MARKET PRICE, TOTAL COST, MARGINAL COST, PROFIT MAXIMIZATION, THEORY OF THE FIRM, THEORY OF MARKETS, PRICE SYSTEM.

References in periodicals archive ?
The aim of the article is primarily to develop a new theory of supply chain alignment enablers rather than to provide a literature review per se, but the literature review is extensive.
The simple fact is that the whole issue boils down to the theory of supply and demand.
As there are so many taxi firms now and due to the old economic theory of supply and demand, maybe it would be wise for the taxi firms to offer a 10p discount for every five minutes that a taxi is late.
Of course, some of his instruction focused on the basics, such as the theory of supply and demand--knowledge Usibelli says he didn't get exposed to until high school or even college.
He pointed out that some portfolio and fund managers will wait companies disclosures about the performance of the third quarter of the year to determine the investment destinations whether on speculative or leadership according to the theory of supply and demand.
Chen and Antony Paulraj, in their 2004 Journal of Operations Management article, "Towards a Theory of Supply Chain Management: The Constructs and Measurements," a supply chain is a system of organizations, people, technology, activities, information, and resources involved in moving a product or service from supplier to customer.
The source, however, said the monthly salaries would be fixed according to the theory of supply and the cost of recruitment.
The theory of supply chain management is governed by the belief that value must be added to a process faster than cost, for the product or services to be advantageous to the organizations involved in its creation (Lamming, 1996).
amp; Skjott-Larse (2007) agree that even though a unified theory of supply chain management has not emerged, an existing socio-economic theory can serve as a dominant theory if it is supplemented with one or even several other theoretical perspectives.
Ruskin believed that the theory of supply and demand resulted in misery for workers, because it encouraged them to sell their labor at a discount when jobs were scarce.
The age-old theory of supply and demand is driven by human nature as much as by statistics.