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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?
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.
What does 'supply' refer to in economics?
What is the difference between supply and quantity supplied?
Which of the following is NOT a factor affecting supply?
How does better transportation affect supply?
What is stock in the context of supply?
