ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Supply. Supply-a schedule or a curve showing the amounts of a product a producer is willing and able to produce and make available for sale at each of a series of possible prices during a specific period of time. Quantity Supplied-the amount of a good that firms choose to sell at a particular price.

Detailed explanation-2: -Supply is defined as the quantity of a good or service that producers are willing and able to supply at a given price in each time period. The law of supply is that as the price of a product rises, so businesses expand supply.

Detailed explanation-3: -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-4: -What determines the quantity of a good or service sellers are willing to offer for sale? Price is one factor; ceteris paribus, a higher price is likely to induce sellers to offer a greater quantity of a good or service. Production cost is another determinant of supply.

Detailed explanation-5: -Supply is a schedule which shows the various quantities businesses are willing and able to offer for sale at various prices in a given time period, ceteris paribus.