Question

What is the difference between supply and quantity supplied?

Options

• Supply is one specific amount; quantity supplied means several amounts

• Supply is a set of quantities at different prices; quantity supplied is amount at a particular price

• Both are always equal

• Supply only applies to stocks

Answer 1

Supply is a set of quantities at different prices; quantity supplied is amount at a particular price

Explanation:

'Supply' refers to the whole set of quantities at different prices, while 'quantity supplied' is the amount offered at one specific price.​