What is the correct meaning of supply?
Answer and explanation
Correct answer: Quantity of a product or service available in the market
Supply refers to the quantity of a good or service that producers or sellers make available for sale in a market, usually during a particular period and at given conditions. A complaint, a holiday, or personal interest does not indicate the amount offered for sale. Thus, market availability is the relevant idea.
Frequently asked questions
What is the correct answer to this question?
Quantity of a product or service available in the market
Why is this the correct answer?
Supply refers to the quantity of a good or service that producers or sellers make available for sale in a market, usually during a particular period and at given conditions. A complaint, a holiday, or personal interest does not indicate the amount offered for sale. Thus, market availability is the relevant idea.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
