Supply Flashcards
1
Q
Supply
A
The quantity of a good/service that producers are able and willing to produce in a given period of time
2
Q
Law of supply
A
Direct relationship between price and quantity
Increase price increase supply
3
Q
Acronym of non pricing factors affecting supply
A
PINTS
4
Q
P in pints
A
Productivity
5
Q
I in pints
A
Indirect tax
6
Q
N in pints
A
No of firms
7
Q
T in pints
A
Technology
8
Q
S in pints
A
Subsidy
