ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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above the market-clearing price
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at any one price at a particular time
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at different prices at a particular time
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according to their resources and profit motives
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Detailed explanation-1: -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-2: -The Law of Supply states that supply is the amount of a good that producers are willing and able to supply at a given price at a certain time. If consumers are willing to pay more, more supply will come to market. If people are not willing to pay the asking price, then the price will fall to meet the demand.
Detailed explanation-3: -Answer and Explanation: The correct answer is B. The amount of a good that producers are willing and able to sell at each possible price, other things constant.
Detailed explanation-4: -What Is Supply? 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-5: -What Is Supply? 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.