ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Different amounts offered for sale at each and every possible price in the market; shift of the supply curve.
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change in demand
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change in supply
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change in quantity supplied
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quantity supplied
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Explanation:
Detailed explanation-1: -The correct answer is option a: Change in demand Option a is correct because when more or less quantity of a commodity is demanded at an existing price, there is a rightward or leftward shift of the demand curve.
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.
Detailed explanation-3: -The supply curve can shift based on several factors including changes in production costs (e.g., raw materials and labor costs), technological progress, the level of competition and number of sellers/producers, and the regulatory & tax environment.
There is 1 question to complete.