ENTREPRENEURSHIP

Detailed explanation-1: -Key Takeaways. 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: -Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price.

Detailed explanation-3: -Demand-a schedule or a curve showing the various amounts of a product consumers are willing and able to buy at each of a series of possible prices during a specified period of time. Quantity Demanded-the amount of a good that consumers choose to buy at a particular price.

Detailed explanation-4: -Supply – The amount of a good or service that sellers are willing and able to provide at all possible prices in a particular market at a given time.