Advertisements
Advertisements
Question
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 ______.
Options
Elasticity of supply
Law of Supply
Supply
Extension of supply
Advertisements
Solution
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 Supply.
Explanation:
Supply is defined as the quantity of a commodity that a seller can offer for sale at a given price during a specific period. This concept considers the seller's readiness to sell a certain quantity of the product at various price levels at a particular time.
APPEARS IN
RELATED QUESTIONS
Supply always refers to a specific desired quantity which a seller is willing to ______.
Define the term supply.
Price of the commodity and quantity supplied of that commodity is ______ related.
What does 'supply' refer to in economics?
Which factor usually decreases the supply of a commodity?
How is a market supply curve constructed?
Which of the following is NOT a factor affecting supply?
What does the supply curve typically look like for an individual firm?
Supply is always stated with ______.
How does better transportation affect supply?
