Supply Dynamics in Bangladesh: A Study of Definitions, Functions, and Market Effects

Abstract

Economics, as a social science, studies human behavior concerning the production, distribution, and consumption of goods and services in the context of limited resources. It analyzes factors such as supply, market dynamics, labor, and consumer behavior and elements like price, time, weather, and taxes influence market conditions and consumer choices. This research paper examines the dynamics of supply in Bangladesh, focusing on its definitions, functions, and effects on market behavior. This study employs a qualitative research method using secondary data from various sources such as academic databases, newspapers, books, and Reports. Utilizing a qualitative research methodology, the study explores the determinants of supply such as price, time, climate, tax, and technical efficiency, and their influence on both the open market and consumer behavior. The findings highlight the critical relationship between supply and market fluctuations in Bangladesh’s economic landscape. The law of supply is emphasized, illustrating the direct correlation between price changes and supply levels, while exceptions to this law are also discussed. The paper further identifies barriers to effective supply, including natural disasters, political instability, and inadequate transport systems, contributing to market inefficiencies and consumer dissatisfaction. Recommendations for improving supply dynamics are proposed, such as enhancing transportation, ensuring political stability, and fostering international relations. Overall, this study underscores the significance of understanding supply determinants to foster a more structured and efficient economic environment in Bangladesh.