The Mugwumps were militants of the Republican Party who, in the presidential election that took place in 1884, changed their political affiliation from the Republican Party to the Democratic Party in order to stand for the candidate Grover Cleveland. They switched because they repudiated the economic corruption linked to James G. Blaine, the candidate for the Republican Party.
As I am thinking you mean "Producers" when you say "Sellers" I am going to go with, Yes. You are correct it is Supply. (Also the other one is called Demand not price)
