Question

Statement (1): Stock is related to a point of time.

Statement (2): Supply is related to a period of time.

Options

• Both the statements are true.

• Both the statements are false.

• Statement 1 is true but Statement 2 is false.

• Statement 2 is true but Statement 1 is false.

Answer 1

Both the statements are true.

Explanation:

• Statement (1): Stock refers to the total quantity of a commodity available with a seller at a specific point of time.
• Statement (2): Supply is a flow concept that represents the quantity of a commodity that a seller is willing to offer for sale at a particular price over a specific period of time.