FACULTY OF BUSINESS

ACCOUNTING SCHOOL

ACADEMIC REPORT

COURSE:

Microeconomics

AUTHOR:

Saldaña Mozombite, Giovanni Alessandro

TEACHER:

Anton de los Santos, Marco Antonio

Sede - Perú

(2023)

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I. INTRODUCCIÓN
Definition of offer:
Supply is defined as the quantity of a good or service that producers are willing
and able to put on the market at different prices during a given period of time.
The law of supply states that, other things being equal, the quantity supplied of
a good or service increases when the price increases and decreases when the
price decreases. Factors that determine an offer:
Several factors affect the availability of a product or service in the market:

1. Price of the Good or Service: An increase in the price of the good tends to
increase the quantity supplied, and vice versa.

2. Production Costs: If production costs decrease, producers can supply more

units of the good at any given price.

3. Technology: Technological advances can increase production efficiency,

which can increase supply.

4. Number of Producers: The greater the number of producers in a market, the

greater the total supply.

5. Producer Expectations: If producers expect the price of a good to increase

in the future, they may reduce current supply to take advantage of higher
prices later.

Supply Elasticity:
Elasticity of supply measures the sensitivity of the quantity supplied to changes
in price. If the quantity supplied changes considerably in response to price
changes, supply is considered elastic; otherwise, it is considered inelastic.

Long and short term offers:

In the short term, some factors, such as production capacity, are not easily
adjusted, which affects the elasticity of supply. In the long term, producers can
better coordinate their business operations to make supply more resilient.

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 II. DESARROLLO
Microeconomics, an important branch of economics, focuses on the individual
behavior of economic agents such as consumers and producers. One of the
fundamental concepts of microeconomics is supply. It refers to the quantity of a
good or service that a producer is willing to offer to the market at various price
levels.
Supply in microeconomics is an important factor that affects market dynamics.
Understanding the determinants of supply and elasticity is essential for
analyzing how changes in prices and other factors affect the quantity of goods
and services in an economy.

III. REFERENCIAS BIBLIOGRÁFICAS

Mankiw, N. G. (2014). Principles of Economics (6th ed.). Cengage
Learning.
https://clea.edu.mx/biblioteca/files/original/bd2711c3969d92b67fcf71d844bcbaed.
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