What do mean by supply?

Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph.

What is supply and demand in simple terms?

Definition of supply and demand

: the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy If less of a product than the public wants is produced, the law of supply and demand says that more can be charged for the product.

What is supply and example?

Specific quantity is the amount of a product that a retailer wants to sell at a given price is known as the quantity supplied. Typically a time period is also given when describing quantity supplied For example: When the price of an orange is 65 cents the quantity supplied is 300 oranges a week.

Does supply mean demand?

The law of supply and demand is the economic relationship between the sellers and the buyers of various commodities. The supply and demand theory states that the price of a product depends on its availability and buyers’ demand. If the product has a high price, the sellers will supply more of it to the market.