Managerial Economics

Topics: Supply and demand, Price elasticity of demand, Elasticity Pages: 4 (1209 words) Published: September 22, 2013
SUPPLY
supply curve - in economics, graphic representation of the relationship between product priceand quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis. In most cases, the supply curve is drawn as a slope rising upward from left to right, since product price and quantity supplied are directly related (i.e., as the price of a commodity increases in the market, the amount supplied increases). This relationship is dependent on certain ceteris paribus (other things equal) conditions remaining constant. Such conditions ... (100 of 193 words)

Money Supply - In economics, the money supply or money stock, is the total amount of monetary assets available in an economy at a specific time.There are several ways to define "money," but standard measures usually include currency in circulation and demand deposits (depositors' easily accessed assets on the books of financial institutions) Supply chain management (SCM) - is the management of an interconnected or interlinked between network, channel and node businesses involved in the provision of product andservice packages required by the end customers in a supply chain.[2] Supply chain management spans the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. It is also defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."[3] SCM draws heavily from the areas of operations management, logistics, procurement, and information technology, and strives for an integrated approach.

DEMAND

DEMAND CURVE is the graph depicting the relationship between the price of a certain commodity and the amount...
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