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Questions
Define the term supply.
Define supply.
What do you understand by supply?
Solution 1
Supply means the quantity of a commodity offered for sale at a particular price, during a given period of time by the producer.
Solution 2
The term 'supply' refers to the quantity of a good that a firm is willing to supply at a particular price during a period of time.
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RELATED QUESTIONS
Following is an essential feature of supply:
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 ______.
Supply always refers to a specific desired quantity which a seller is willing to ______.
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.
