BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the total amount of a good or service available for purchase?
A
Producer
B
Consumer
C
Demand
D
Supply
Explanation: 

Detailed explanation-1: -The total amount of goods and services available in the economy at all the price levels is called aggregate supply.

Detailed explanation-2: -Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph.

Detailed explanation-3: -Supply in economics is defined as the total amount of a given product or service a supplier offers to consumers at a given period and a given price level. It is usually determined by market movement.

Detailed explanation-4: -Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price. Many things determine demand, but only price can determine the quantity demanded of a specific good.

Detailed explanation-5: -The supply is the total amount of an available product at a given price.

There is 1 question to complete.