Where does supply collide?

In microeconomics, supply is the quantity of a good that producers are willing and able to offer for sale at each possible price, drawn as an upward-sloping supply curve on a price-quantity graph. Alfred Marshall's Principles of Economics (1890) set out the scissors of supply and demand, in which the supply curve meets the demand curve to fix the market price and quantity, and stated the rule that a higher price tends to call forth a larger quantity supplied. Here the referent is a schedule relating price to quantity, a behavioural relationship of sellers, not a stock of money held in an economy, a network that moves goods to customers, or a device that delivers electric power.[1]

Unit

A price-quantity schedule, read as the quantity offered at each price

Recovery means

Not applicable

Measured by

Estimated from market data by regressing quantity supplied on price and cost shifters, tracing the curve's slope and its shifts

In monetary economics, the money supply is the total stock of money in circulation in an economy at a moment in time, tallied in aggregates such as M1 and M2 that add up currency and various kinds of bank deposits. Friedman and Schwartz's A Monetary History of the United States, 1867–1960 (1963) traced how changes in this stock, largely governed by the central bank, moved prices and output over nearly a century. The referent is a quantity of money measured in currency units at one date, a stock rather than a flow, and it is unrelated to the price-quantity curve of a single good, the logistics network that carries products, or the electrical device on a workbench.[2]

Unit

A stock of money in currency units at a point in time, as an aggregate like M1 or M2

Recovery means

Not applicable

Measured by

Compiled by central banks from currency in circulation plus categories of bank deposits, reported as monetary aggregates

In operations and logistics, a supply chain is the network of organisations, people, activities, and resources that moves a product from raw materials through to the end customer, and supply chain management is the coordination of that flow. Mentzer and colleagues' Defining Supply Chain Management (2001) reviewed the many uses of the phrase and offered a unifying definition centred on the systemic coordination of business functions across the firms in the chain. The referent is a multi-firm network and the practice of running it, an arrangement of flows of goods and information, not a price-quantity relation, a stock of money, or a piece of electrical hardware.[3]

Unit

A multi-organisation network moving a product from source to customer

Recovery means

Not applicable

Measured by

Mapped and assessed by tracing flows across firms and tracking metrics such as lead time, inventory, cost, and fill rate