What's it: A supply shock is a sudden and unexpected event causing a dramatic change in output. It can be positive or negative. It is positive if it increases output and negative if it decreases output. Shocks here can refer to macroeconomic
Supply
Individual Supply: Meaning, Curve, Determinants
What's it: Individual supply refers to the number of goods a firm is willing and able to produce at a given price, ceteris paribus. It only represents supply from one producer. When you combine all the firms' production in the market, we call it
Supply: Meaning, Factors Affecting It
In economics, supply represents the quantity that producers are willing and able to supply at a certain price. That is a fundamental economic concept besides demand. Producers exist to meet consumer demand. If the individual motive is satisfaction