Question

Distinguish between supply and quantity supplied.

Give the difference between supply and quantity supplied.

Answer 1

Sr. No.	Supply	Quantity Supplied
1.	Supply refers to the entire relationship between the price of a good and the amount that producers are willing to offer for sale over a range of prices during a given period of time.	Quantity supplied refers to the specific amount of a good that producers are willing to sell at a particular price at a given point in time.
2.	It is represented by the supply curve, which shows how much of a good producers are willing to sell at different prices.	It is a single point on the supply curve.
3.	When there is a change in non-price determinants (like technology, input prices, number of sellers, government policy, etc.), the supply curve shifts. Rightward shift: Increase in supply Leftward shift: Decrease in supply	Occur due to a change in price only, causing a movement along the supply curve. Upward movement: Increase in quantity supplied (due to price rise) Downward movement: Decrease in quantity supplied (due to price fall)