What is the market supply?
Understand the Problem
The question is asking for an explanation of the term 'market supply', which pertains to economics and refers to the total amount of a good or service that producers are willing and able to sell at various prices in a given market.
Answer
Market supply is the total quantity of a good or service that all producers are willing and able to sell at different prices over a given period.
Market supply is the total quantity of a good or service that all producers are willing and able to sell at different prices over a given period of time.
Answer for screen readers
Market supply is the total quantity of a good or service that all producers are willing and able to sell at different prices over a given period of time.
More Information
Market supply considers all producers within a market and their willingness to supply goods or services at various price points.
Sources
- Definition of Market Supply | Higher Rock Education - higherrockeducation.org
- What Is Market Supply? (Plus 4 Steps for Calculating It) | Indeed.com - indeed.com
- Market Supply Schedule | Definition & Examples - Lesson - Study.com - study.com
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