Supply schedule

In economics, supply and demand describe market relations between prospective sellers and buyers of a good. The supply and demand model determines price and quantity sold in the market. The model is fundamental in microeconomic analysis of buyers and sellers and of their interactions in a market. It is also used as a point of departure for other economic models and theories. The model predicts that in a competitive market, price will function to equalize the quantity demanded by consumers and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity. The model incorporates other factors changing such equilibrium as reflected in a shift of demand or supply.
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A table or listing showing the exact quantities of a single type of good (or service) that potential sellers would offer to sell at each of a number of varying prices during some particular time period. Supply schedules may be drawn up to reflect the behavioral propensities of a single unique individual, household, or firm -- or, more frequently encountered in microeconomic analysis, composite supply schedules for the particular good may be derived by adding up all the supply schedules of the large number of individuals, households or firms that are active or potentially active as sellers in the market under consideration. [See also: supply, law of supply, supply curve, market]