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Define Supply. - ICSE Class 10 - Economics

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Question

Define supply.

Solution

The supply of a commodity is defined as the quantity of the commodity which the producers desire to sell to consumers. Thus, the supply is the desired flow. It indicates how much firms are willing to sell per period of time and not how much they actually sell.

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APPEARS IN

 2013-2014 (March) (with solutions)
Question 7.1 | 5.00 marks
 2012-2013 (March) (with solutions)
Question 6.1 | 5.00 marks
Solution Define Supply. Concept: Concept for Demand and Supply.
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