10
QuizLong Text

Supply

Question 10 • FL-2106010-M/J Civics B

Explain what is meant by the term supply. What is the law of supply?

Answer

Answer:

Supply is the quantity of a good or service that producers are willing and able to sell at different prices during a given period. The law of supply says that, other things being equal, producers offer more for sale when the price rises and less when the price falls.