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June 15, 2024 

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SIGNALLING: The use of low-cost, easy to obtain information about a product or commodity to indicate the quality of a product. Signalling occurs when buyers use features of a commodity or actions by the seller to indicate overall product quality. These signals can be either intended or unintended.

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DEMAND CURVE: A graphical representation of the relationship between the demand price and quantity demanded (that is, the law of demand), holding all ceteris paribus demand determinants constant.

     See also | demand | demand price | quantity demanded | law of demand | ceteris paribus | demand determinants | demand space | demand shock | supply curve | market |


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MARKET SUPPLY

The combined supply of everyone willing and able to sell a good in a market. Market supply is one half of the market. The other is market demand. It is graphically represented by a positively-sloped market supply curve, which can be derived by combining, or adding, the individual supplies of every seller in the market.

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