In this article, you’ll learn about What is Supply Schedule? Definition, Types, Example.
1. What is Supply Schedule?
A Supply Schedule is a table that shows the quantity of a good that a seller is willing to supply at different price levels over a certain period of time. It helps us understand the relationship between price and quantity supplied.
In simple terms:
As the price of a product increases, the quantity supplied also increases — assuming all other factors remain the same.
The supply schedule is a practical way to present this relationship and is widely used in economics for analysis and forecasting.
2. Types of Supply Schedule
There are two main types of supply schedules:
- Individual Supply Schedule
- Market Supply Schedule
Let’s understand both.
2.1 Individual Supply Schedule
An Individual Supply Schedule refers to the supply data of a single producer or firm. It shows how much quantity one seller is willing to supply at different prices.
2.1.1 Example of Individual Supply Schedule
| Price (₹ per unit) | Quantity Supplied by Seller A |
|---|---|
| ₹10 | 50 units |
| ₹15 | 70 units |
| ₹20 | 90 units |
| ₹25 | 110 units |
| ₹30 | 130 units |
This table shows that as the price rises, Seller A is ready to supply more goods — which follows the Law of Supply.
2.2 Market Supply Schedule
A Market Supply Schedule combines the supply data of all sellers in the market. It reflects the total quantity of a good that all producers are willing to supply at different prices.
2.2.1 Example of Market Supply Schedule
| Price (₹ per unit) | Quantity by Seller A | Quantity by Seller B | Market Supply (A + B) |
|---|---|---|---|
| ₹10 | 50 units | 40 units | 90 units |
| ₹15 | 70 units | 60 units | 130 units |
| ₹20 | 90 units | 80 units | 170 units |
| ₹25 | 110 units | 100 units | 210 units |
| ₹30 | 130 units | 120 units | 250 units |
This table shows how the market supply increases with price, reflecting the behavior of multiple sellers.