BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Producer
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Consumer
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Demand
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Supply
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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.