What is supply?
Answer and explanation
Correct answer: Quantity of goods or services available in the market
Supply refers to the quantity of a good or service that sellers make available or are willing to offer in a market, usually at particular prices and during a particular period. The option gives the basic classroom meaning of availability. A customer complaint, business failure, or unplanned spending may affect a business but does not define supply.
Frequently asked questions
What is the correct answer to this question?
Quantity of goods or services available in the market
Why is this the correct answer?
Supply refers to the quantity of a good or service that sellers make available or are willing to offer in a market, usually at particular prices and during a particular period. The option gives the basic classroom meaning of availability. A customer complaint, business failure, or unplanned spending may affect a business but does not define supply.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Concept, characteristics and objectives of business.
