a. i. Meaning and determinants of supply ii. Supply schedules and supply curves iii. the distinction between change in quantity supplied and change in supply
b. Types of Supply: Joint/complementary, competitive and composite
c. Elasticity of Supply: determinants, measurements, nature and applications
Candidates should be able to:
(i) identify the factors determining supply; (ii) interpret supply curves from supply schedules; (iii) differentiate between change in quantity supplied and change in supply; (iv) compare the various types of supply and their interrelationships; (v) relate the determinants to the nature of elasticity; (vi) compute elasticity coefficients; (vii) interpret the coefficients in relation to real live situations.
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