What is the supply and quantity supplied
Supply represent the quantity of a commodity, which suppliers are ready to offer for sale at a definite price over a period of time. In other words, supply is what the supplier is willing to offer for sale to the customers. In contrast, quantity supplied have the amount of a particular commodity that the firm is willing and able to make available for sale at the given price at the given period of time. The seller of the product have the supply side of the commodity.
What is the supply:
Supply refers to the total schedule of quantities of the goods that trafficker offers purchasable, in any respect doable costs. These costs square measure already given for the day, week or month whereas alternative factors stay constant.
It is a mix of each disposition and talent of the producer to provide.
It is a flow idea.
Noting that the particular sale of that goods isn’t identical as its offer.
What is the Quantity:
Quantity provided refers to the overall amount of an honest that the provider decides to supply and sell within the given circumstances. It indicates the amount of the merchandise that the vendor is ready and willing to sell at an explicit value. It represents some extent on the availability curve that we have a tendency to square measure bearing on. In general, the availability of a artifact varies directly in respect to its value. This suggests that at higher costs the firm provides additional amount of a artifact and the other way around.
Some difference between supply and quantity:
Supply is that the basic construct in social science. It implies numerous} quantities that the producer is willing to sell at various attainable costs. But, amount provided is that the total quantity of goods that suppliers can provide, at a specific market value.
Supply represents what proportion the market can give at completely different costs. In distinction, amount provided represents what quantity of goods producers can provide at a particular value.
The provide schedule or supply curve indicates the availability of the goods. Whereas the number provided is mirrored by the purpose given on the availability curve.
The supply curve tends to shift once it encounters a modification in non-price determinants. This influences the supplier’s temperament to sell the merchandise.