ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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how much consumers want something.
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the amount of something available to consumers
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Either A or B
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None of the above
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Detailed explanation-1: -The fundamental economic concept that states the total amount of a specified product or service that is available to customers is known as ‘supply. ‘ It is very closely related to and goes hand in hand with demand. When supply exceeds demand for a product or service, the prices of said product fall.
Detailed explanation-2: -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. For instance, a higher demand may push a supplier to increase supply.
Detailed explanation-3: -A supply of goods includes the following: the transfer of ownership of goods by agreement. the sale of movable goods on a commission basis by an auctioneer or agent. They need to be acting in their own name but on the instructions of another person. the handing over of goods under a hire-purchase contract.
Detailed explanation-4: -noun. : the lowest price at which a given amount of commodities will be offered under given conditions.
Detailed explanation-5: -Market supply. Long term supply. Short term supply. Joint supply. Composite supply.