BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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demand
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supply
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equilibrium
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Detailed explanation-1: -Supply represents the capability or willingness of a seller to provide a particular good/service in the market.
Detailed explanation-2: -AI Recommended Answer: Supply demand equilibrium describes the seller’s ability and desire to sell goods and services.
Detailed explanation-3: -Demand refers to the consumer’s desire and willingness to buy a product or service at a given period or over time. Consumers must also have the ability to pay for something they want or need as determined by their disposable income budget.
Detailed explanation-4: -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.
Detailed explanation-5: -Equilibrium is the state in which market supply and demand balance each other, and as a result prices become stable.