ENTREPRENEURSHIP

Detailed explanation-1: -What is Quantity Supplied. 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. Description: Different quantities can be supplied at different prices at a particular point of time.

Detailed explanation-2: -Price and the Supply Curve The quantity supplied of a good or service is the quantity sellers are willing to sell at a particular price during a particular period, all other things unchanged. Ceteris paribus, the receipt of a higher price increases profits and induces sellers to increase the quantity they supply.

Detailed explanation-3: -Economists generally lump together the quantities suppliers are willing to produce at each price into an equation called the supply curve. The higher the price, the more suppliers are likely to produce. Conversely, buyers tend to purchase more of a product the lower its price.