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Exceptions To The Law Of Supply (for UPSC CSE)
Lesson 9 of 13 • 1187 upvotes • 10:30mins
Ayussh Sanghi
This lesson begins with the mention of factors that are exempted from adherence to the Law of Supply. It explains how the inverse relationship between the quantity supplied & the price is the opposite of that the Law of supply represents, hence this is an exception as it is against the law. The lesson analyses these exceptions from the seller's point of view, their expectations of future prices & their strategies as per the fluctuations. The other factors that the sellers' consider are weather, perishable commodities, fashionista, economic slowdown, modification in business, requirement of funds and lastly the supply of labor.
Economy of UPSC CSE (IAS): Indian Economy
13 lessons • 2h 9m
1
Definition Of Economics (for UPSC CSE)
9:22mins
2
Economics As A Discipline (for UPSC CSE)
9:18mins
3
Understanding Of Economic Policy Of Government (for UPSC CSE)
9:32mins
4
An Insight Into Demand As A Market Force (for UPSC CSE)
9:39mins
5
Understanding The Concept Of Demand (for UPSC CSE)
10:30mins
6
Understanding The Concept Of Demand Part 2 (for UPSC CSE)
10:31mins
7
Understanding The Concept Of Supply (for UPSC CSE)
9:53mins
8
Variables Affecting The Supply Curve (for UPSC CSE)
9:29mins
9
Exceptions To The Law Of Supply (for UPSC CSE)
10:30mins
10
Understand The Concept Of The Point Of Equilibrium (for UPSC CSE)
9:49mins
11
Understanding The Concept Of Elasticity Of Demand (for UPSC CSE)
10:11mins
12
Elasticity Of Supply
10:14mins
13
Types Of Markets (for UPSC CSE)
10:31mins
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