Difference between revisions of "Supply"
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| − | + | 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. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits. <ref>[https://www.investopedia.com/terms/s/supply.asp What is the meaning of Supply in business?]-Investopedia</ref> | |
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| + | ===See Also=== | ||
| + | *[[Supply Chain]] | ||
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| + | ===References=== | ||
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Revision as of 10:19, 11 November 2022
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. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits. [1]
See Also
References
- ↑ What is the meaning of Supply in business?-Investopedia