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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
Which one of the following is not a feature of supply?
Supply always refers to a specific desired quantity which a seller is willing to ______.
Explain how the supply of a commodity is affected by the prices of other related commodities. Give suitable examples.
What does 'supply' refer to in economics?
Which factor usually decreases the supply of a commodity?
What is the difference between supply and quantity supplied?
Which of the following is NOT a factor affecting supply?
What is an example of market supply?
How does better transportation affect supply?
What is stock in the context of supply?
