| 单词 | supply |
| 释义 | supply The amount of a good or service offered for sale. The supply function relates supply to the factors which determine its level. These include the price of the good, the prices of factor services and intermediate products employed in producing it, the number of firms engaged in producing it and their levels of capital equipment. The supply curve relates the supply of a good to its price, holding the prices of inputs constant. If the producers are perfect competitors and act as price-takers, the supply curve is the horizontal sum for each price level of the marginal cost curves of the firms that take part in the industry at this price. Supply is more elastic, the more price rises attract firms to enter the industry and price falls cause them to leave it. If the producers are not perfect competitors the supply curve is not defined. excess supply is the excess of supply over the demand for a good or service at the existing price. supply-side economics is the view that output is more strongly influenced by factors affecting supply than by effective demand. See also: adverse supply shock, aggregate supply, elasticity of supply, excess supply, inelastic supply, joint supply, labour supply, money supply, and refusal to supply |
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