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: -1. 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: -The equilibrium price is the only price where the plans of consumers and the plans of producers agree-that is, where the amount of the product consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied). This common quantity is called the equilibrium quantity.

Detailed explanation-5: -the supply curve that shows the quantities offered at various prices by all firms that offer the product for sale in a given market.