answer the following question: what are the determinants of aggregate supply (as)? - concept of aggregate demand and aggregate supply
answer the following question:what are the determinants of aggregate supply (as)?
aggregate supply indicates the total amount of goods and services produced within an economy at a given the general (or overall) price level during an accounting period. `as = f(barn,barl,bark,bart)` where,as = aggregate supplyn = natural resourcesl = labourk = stock of capitalt = state of technologynatural resources: natural resources include the gifts of nature such as fertile land, weather conditions, adequate rainfall, flora and fauna, perennial rivers etc. the abundant availability of all these factors act in favour of production. the aggregate supply of a country bestowed with these natural resources will be higher and vice-versa.labour: availability of skilled and motivated labour is another determinant of supply. the supply in an economy with abundance of skilled labour will be high and vice-versa.capital: capital is essential in the production process. capital helps in acquiring raw materials, equipments, plant and machinery, buildings etc. which are essential for increasing the production. greater the stock of capital, greater would be the level of output and production. state of technology: the state of technology in an economy decides the level of supply. advanced technology helps in improving the production efficiency in a a country. with better and advanced technology production can be increased while reducing the cost of production. this in turn positively affects the supply. thus, the availability of modern and advanced technology helps in increasing the supply.
its relatively price inelastic because, its almost a necessity, and by definition, necessities are said to be price inelastic. an increase in the input price will lead to a decrease in the supply and no change in the quantity demanded.the following figure explains how an increase in the input price would affect the equilibrium price and equilibrium quantity.a. the market supply falls with the increase in the input prices.b. this leads to a leftward shift in the supply curve from s2 to s1.c. at the initial price op1, excess demand of q1-q1'.d. this excess demand implies that some consumers will have to pay a higher price to purchase the extra units of output.e. the rise in the market price will continue until it reaches op2.f. at op2, the new supply curve s2 intersects the initial market demand curve d1 at e2.g. e2 if the new equilibrium, op2 is the new equilibrium price, and oq2 is the new equilibrium output.h. at the new equilibrium, the price has increased and the quantity has fallen. **Basic essential elements of positive sports environment are of utmost importance, which are as follows:-**

**(a) Infra structural setup :-** The architectural design of infrastructure should consider the following factors such as purpose and need of setting up must be made clear, how much area required for those activities, natural or other sources available, industrial pollution, facilities to be provided for players or spectators, Spectators Sitting Capacity, finances or funds available. 

**(b) Facilities and its maintenance :-** In sports environment the playing equipments should be of very good standard. The playing area should be well maintained, marked properly, regularly cleaned up and safe for performing activity. There should be safe provision of drinking water, washrooms, changing rooms etc. There should be provision of emergency exit point along with proper first aid facility. 

**(c) Players, Expert Staff and organisation :-** Sports environment is meant for players. Players should also be guided and given proper training. The staff must be well qualified with good experience in related fields. There should be proper administration and organisation among staff members. Players should be inculcated towards good habits, moral values, sports ethics, sportsman qualities etc. In sports environment we should also encourage people who provide help or promote and help to improve sports environment. generaloraverage rate is the change in the concentration of a compound over a period of time.the average rate the reactants and products in a reaction are equal when the coefficient for each is 1.the rate for the reactants are negative. this is because the reactants are being consumed in the reaction. the rate for the product c is positive because it is being produced in the reaction.for a reaction where the coefficients of the compounds are different, the rate is multiplied by the reciprocal of the coefficient.example: 2a + b → 3cthe given reaction is:3o2(g) → 2o3(g)­given the rate of o2 consumption is -2.17x10-5 mol/l∙snote that value is negative to indicate that it is decreasing as the reaction proceeds.rearranging the rate equation to give the reaction rate is terms of [o3]: price elasticity of demand is -3price is rs 10quantity is 100 unitschange in price is 50%ed = p/q *change in q/change in p-3 = 10/100 * change in q / 50-3 = change in q/500change in q = 500*3 = 1500 we first define our axisupward is along + y direction of axiseastward is along + x direction of axisvelocity of a aeroplane = velocity of a bullet = a person on the earth will see the bullet having a resultant velocity and angle θ with the vertical (y axis)θ = angle with the vertical (y axis) technical vocab – phil 1010 lecture 2 key: terms – \_\_\_ topics – \_\_\_ important – \_\_\_  what is an argument? o arguments are statements that represent an inference. o premises are statements that support a conclusion.  what is an inference? o inferences are thoughts that we believe is true.  inferences can take place conscious or unconsciously. o inferences are implicit while arguments are explicit. o implicit thoughts are implied, suggested, or understood but not directly expressed. o explicit thoughts are usually overly expressed.  sentences & statements o sentences are grammatically correct string of words. o declarative sentences can be either true or fa answer: oxygen gas is responsible for combustion. combustion is characterized as a rapid exothermic reaction that releases a significant amount of energy in the form of heat and flames as combustion reactions that can spread through a suitable medium. combustion is the outcome of dynamic or time-dependent activities between atoms, molecules, radicals, and solid boundaries at the molecular level. for combustion to occur, three conditions must be met, which are there should be a combustible material. there should be a supporter of combustion. the combustible material is heated to the ignition temperature. the presence of fuel has a significant effect. the existence of oxygen or air. the ignition temperature is kept constant. <p>consumption is a basic human activity and it is very essential for the survival of any human being.</p><p><em><strong><span style="font-size: 14pt;">utility</span></strong></em><em><strong><span style="font-size: 14pt;">-</span></strong></em></p>
<p>consumption is a basic human activity and it is very essential for the survival of any human being. it, in fact, continues from birth to death. we undertake consumption for the satisfaction of our wants, which can be both physical and psychological. in order to have a proper understanding of the process of consumption we must understand the following words:</p>
<p><em><strong><span style="font-size: 14pt;">(i) want:</span></strong></em></p>
<p>want is a feeling of mental pain, or an experience of lack of satisfaction, which a person feels for not getting a thing. this can he both for physical as well as psychological reasons. if the thing or commodity, in the absence of which we are feeling the pain, is received then our want is fulfilled, that is to say, the feeling of pain disappears. wants lead to an action designed to provide satisfaction. wants have several characteristics.</p>
<p><strong>the first</strong> is that they are unlimited in number. even as we satisfy some of the wants, we get accustomed to new wants.</p>
<p><strong>the second</strong> characteristic is that they are competitive in nature. wants compete with each other for limited resources which a person possesses. this gives rise to choice making as we have already seen in an earlier chapter.</p>
<p><strong>the third </strong>characteristic is their complementarity. it means that many wants go together. one gives rise to another and the satisfaction of one is not complete without satisfying the other also.</p>
<p><strong>the fourth</strong> characteristic of the wants is their recurrent nature. it implies that from the first unit of consumption, but the utility received from the second unit of consumption is 14 only and the total utility for 2 units, therefore, becomes 15 + 14 = 29. the third unit of consumption gives us a utility of 11 only and the total utility becomes 29 + 11 = 40. in this way, the marginal utility goes on diminishing and it finally reaches zero also for the 10th unit of consumption. this means that this commodity is no longer is a position to given any satisfaction. this is also called the <strong>point of satiety</strong>. if somebody still insists on taking an additional unit, then the marginal utility becomes negative and the total utility starts falling. we also find that the total utility is nothing but a summation of individual utilities of each successive unit, and the marginal utility is nothing but an addition to the total utility. we can also show it as follows.</p>
<p>                                           </p>
<p>                                                   <strong>mun = tun - tun-1</strong></p>
<p>where,</p>
<p>mun =  marginal utility of n units</p>
<p>tun =  total utility of n units </p>
<p>tun-1 =  total utility of n-1 units</p>
<p> </p>
<p>if we analyse the above situation we can say, that as we go on taking some units of consumption, our wants go on being partially satisfied. therefore, the intensity of want goes on diminishing and accordingly, the satisfaction also goes on diminishing. after 9 units our want has been fully satisfied and therefore, the next unit would not give any satisfaction and the utility derived from the next unit becomes '0' and after that it becomes negative or in other words the utility becomes disutility:</p>
<p>the above phenomenon is called the <strong>law of diminishing marginal utility</strong>, which can be stated as follows:</p>
<p> </p>
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<p><strong>note -  </strong></p>
<p>the law of diminishing marginal utility was first given by a german writer <strong>hermann heinrich gossen</strong> in the middle of <strong>nineteenth century</strong>. it is, therefore, also called as <strong>'the first law of gossen'</strong>. similarly, the law of equimarginal utility is called <strong>'the second law of gossen'. </strong></p>
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<p> </p>
<p><em><strong>“as we go on consuming more than one unit of consumption, the utility derived from each successive unit of consumption goes on diminishing."</strong></em></p>
<p> </p>
<p>here, it needs to be clarified that marginal utility would be diminishing but at what rate it would be diminishing, is not certain. in the above table we find that sometimes it falls by 1, sometimes by 2 and sometimes by 3 units. it is also to be noted that, it is possible in some cases that initially the marginal utility is increasing, but the phenomenon of increasing marginal utility would be restricted to only first few units of consumption. after that, the application of the law of diminishing marginal utility is inevitable.</p>
<p> </p>
<p><span style="font-size: 14pt;"><em><strong>assumptions of the law -</strong></em></span></p>
<p>the law of diminishing marginal utility is based on the following assumptions.</p>
<p>1. all units of consumption of the commodity are homogeneous in nature i.e. they are exactly the same in size, quantity, quality etc.</p>
<p>2. there is no time gap between the different units of consumption i.e. the process of consumption continues without a time lag.</p>
<p>3. the taste and choice of the consumer for the commodity does not change.</p>
<p>4. this law also assumes that the marginal utility of money is constant (although some economists do not agree with it).</p>
<p> </p>
<p> </p> to find: limitsnote: first check the form of imit. used this method if the limit is satisfying any one from 7 indeterminate form.in this case, indeterminate form is formula used: = 1so, by using the above formula, we have = = therefore, =