ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount of a product offered for sale at all possible prices.
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The amount of a product people are willing to buy at all possible prices.
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The amount of a product people are willing to trade for.
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None of the above
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Detailed explanation-1: -Supply is the amount of a product offered for sale at all possible prices in a market. The Law of Supply states that more product will be offered for sale at higher prices than at lower prices.
Detailed explanation-2: -Which of the following best defines supply? The amount of a good that producers are willing and able to sell at each possible price, other things constant.
Detailed explanation-3: -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-4: -Supply. Supply refers to the amount of goods and services that sellers are willing to sell. Typically, supply increases with increases in price, this trend can be graphically represented with a supply curve.