Թեմա - The economic law of supply and its mechanism of action
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Առարկա - Անգլերեն լեզվով
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2. Melvin & Boyes, Microeconomics 5th ed. (Houghton Mifflin 2002)
3. Ayers & Collins, Microeconomics (Pearson 2003) at 66.
Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits.
Economists who emphasize the role of supply in the macroeconomy often refer to the work of a famous French economist of the early 19th century named Jean-Baptiste Say. Say’s Law states that “Supply creates its own demand.” As a matter of historical accuracy, it seems clear that Say never actually wrote down this law and that it oversimplifies his beliefs, but the law lives on as useful shorthand for summarizing a point of view.