ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -SUPPLY: The willingness and ability to sell a range of quantities of a good at a range of prices, during a given time period.

Detailed explanation-2: -Several factors can cause market demand for a product or service to change. price and the quantities bought and sold. Supply is the willingness and ability to produce and sell a good or service.

Detailed explanation-3: -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-4: -Supply is the amount of product that a company can provide to customers at a specific price. Demand is the customer’s desire to purchase the product at that price. Supply and demand work together to create a balanced and competitive market.