BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In economics, quantity supplied describes the number of goods or services that suppliers will produce and sell at a given market price.

Detailed explanation-2: -Supply is a schedule which shows the various quantities businesses are willing and able to offer for sale at various prices in a given time period, ceteris paribus. Supply is NOT the quantity available for sale.

Detailed explanation-3: -Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. Demand is based on needs and wants-a consumer may be able to differentiate between a need and a want, but from an economist’s perspective they are the same thing.

Detailed explanation-4: -In economics, quantity demanded refers to the total amount of a good or service that consumers demand over a given period of time. Quantity demanded depends on the price of a good or service in a marketplace.

Detailed explanation-5: -Definition: Quantity supplied is the quantity of a commodity that producers are willing to sell at a particular price at a particular point of time. Description: Different quantities can be supplied at different prices at a particular point of time.