ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -When economists talk about supply, they mean the amount of some good or service a producer is willing to supply at each price.

Detailed explanation-2: -Economists define supply as the quantity of a good or service that producers are willing and able to offer for sale at each possible price during a given time period.

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: -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-5: -In economics, quantity supplied describes the number of goods or services that suppliers will produce and sell at a given market price. The quantity supplied differs from the actual amount of supply (i.e., the total supply) as price changes influence how much supply producers actually put on the market.