Abstract
The term ‘offer’ has typically been used to refer to offers for sale from given stocks. The flow of commodities from a production process is typically labelled ‘supply’. The distinction is not purely semantic, but bears upon differences in price determination – as between the attainment of equilibrium in the market for a stock, and the balance of supply and demand in production.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Bibliography
Walras, L. 1874–7. Eléments d’économie politique pure. Trans. as Elements of Pure Economics, ed. W. Jaffé. Homewood: Irwin, 1954.
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Eatwell, J. (1987). Offer. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1282-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1282-1
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Publisher Name: Palgrave Macmillan, London
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