ECONOMICS
SUPPLY
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Quantity supplied
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Supply
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Either A or B
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None of the above
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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.
Detailed explanation-2: -noun. : the lowest price at which a given amount of commodities will be offered under given conditions.
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 a product that would be offered for sale at all possible prices in the market. That means the amount a producer will offer when the price is: $1, $2, $5, $100, $1000, etc. The Law of Supply states that suppliers will normally offer more for sale at higher prices and less at lower prices.
Detailed explanation-5: -Market supply. Long term supply. Short term supply. Joint supply. Composite supply.