Welcome to another episode of my podcast. Supply means the quantities that a seller is willing and able to sell at different prices. It is oblivious that if the price goes up, the seller will offer more for sale and vice versa. Therefore, supply varies with price.
Welcome to another episode of my podcast. Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply relate to amount available at a specific price or amount available across a range of prices. The factors of supply for a given product or service is related to price factor as well as Non Price factors such as price if inputs, technology, expectations and number of sellers.