ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The quantity supplied of a good or service is the quantity sellers are willing to sell at a particular price during a particular period, all other things unchanged. Ceteris paribus, the receipt of a higher price increases profits and induces sellers to increase the quantity they supply.

Detailed explanation-2: -The quantity supplied is the amount of a good or service that is made available for sale at a given price point. In a free market, higher prices tend to lead to a higher quantity supplied and vice versa. The quantity supplied differs from the total supply and is usually sensitive to price.

Detailed explanation-3: -Quantity supplied is the amount of a good that sellers are willing and able to sell.

Detailed explanation-4: -The types of supply are: Market supply. Long term supply. Short term supply.

Detailed explanation-5: -Excess Demand: the quantity demanded is greater than the quantity supplied at the given price. This is also called a shortage. Excess Supply: the quantity demanded is less than the quantity supplied at the given price. This is also called a surplus.