ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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. The quantity supplied differs from the total supply and is usually sensitive to price.

Detailed explanation-2: -Supply represents how much the market can offer at different prices. In contrast, quantity supplied represents what amount of commodity producers will supply at a specific price. The supply schedule or supply curve indicates the supply of the commodity.

Detailed explanation-3: -In economic terminology, supply is not the same as quantity supplied. When economists refer to supply, they mean the relationship between a range of prices and the quantities supplied at those prices-a relationship that can be illustrated with a supply curve or a supply schedule.

Detailed explanation-4: -The general idea of quantity supplied relates to the law of supply. The law of supply states that supply increases as price increases. For example, if the price of grapes increases, then the quantity supplied of grapes would likely increase as well.

Detailed explanation-5: -noun. : the lowest price at which a given amount of commodities will be offered under given conditions.