Supply Schedule

What is a Supply Schedule?

Supply Schedule can be defined as a table showing the relationship between the market price of commodities and the quantity supplied. It is a table that shows the various quantities of commodities sold at various prices in a given period of time. 

Types of Supply Schedules:

1. An Individual Supply Schedule: 

This is a table that shows quantities of goods and services an individual is ready to offer for sale, at different prices, in a period of time.

The table below represents an individual schedule of Mr. Akin, from the table we will see that the seller is only willing to supply more of his goods into the market at a higher price than at a lower price.

_{An individual Schedule for Mr. Akin.}

From Mr. Akin’s table, we can see that the seller is willing to supply less of his goods into the market at a lower price and supply more of his goods into the market at a higher price.

2. Market Supply Schedule:

This is a table that shows the total quantities supplied by sellers in a market or what the producers /sellers are ready to offer for sale at different prices in a period of time. The market supply is also called the Aggregate supply schedule.

_{The table shows the market Schedule of Mr. Akin, Mr. Ibe and Mr. Ogun at different market prices.}