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Question
Following is an essential feature of supply:
Options
Total quantity of a product available for sale at a particular point of time.
Quantity of a product offered for sale at a certain price.
Supply is a stock variable.
All the above
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Solution
Quantity of a product offered for sale at a certain price.
Explanation:
Supply refers to the quantity of a product that producers are willing and able to offer for sale at different prices over a specific period of time. It is fundamentally linked to the price of the product.
RELATED QUESTIONS
The quantity of a commodity which a seller is ready to offer for sale at a given price and at a given time. This defines ______.
Define the term supply.
Price of the commodity and quantity supplied of that commodity is ______ related.
Explain how the supply of a commodity is affected by the prices of other related commodities. Give suitable examples.
How is a market supply curve constructed?
What is the difference between supply and quantity supplied?
What does the supply curve typically look like for an individual firm?
What is an example of market supply?
Supply is always stated with ______.
How does better transportation affect supply?
