How are a market supply schedule and an individual supply schedule alike and different?

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Social Studies

Snickers

17 May, 19:18

How are a market supply schedule and an individual supply schedule alike and different?

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Dilly Dally · Answer 1

In the area of economics, supply is where an amount of a good or service is provided by a producer over a length of time. With supply, there are two types, individual supply schedules and market supply schedules.

The way that the individual and market supply schedules are alike is that they both provide a good or a service to a market over a length of time.

The difference is that an individual market supply schedule focuses on individual companies willing to provide an amount of a good or service to the market, whereas a market supply schedule focuses on an amount of a good or service that all companies combined (not just individual companies) are willing to sell.