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. Price is what the producer receives for selling one unit of a good or service.

Detailed explanation-2: -In economics, quantity supplied describes the number of goods or services that suppliers will produce and sell at a given market price.

Detailed explanation-3: -Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.

Detailed explanation-4: -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-5: -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.