Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Ask your questions and receive precise answers from experienced professionals across different disciplines. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Define “supply” for commodity

Sagot :

Answer:

The supply of a commodity is the amount of the commodity which the sellers or producers are able and willing to offer for sale at a particular price, during a certain period of time.

Note: Hope it helped

The amount of a commodity that sellers or producers are able and willing to provide for sale at a specific price for a specific length of time is referred to as the supply of that commodity.

To put it another way, we may say that supply is a relative concept. It is always used in the context of a relationship between price and time. A statement of supply that makes no mention of price or time makes little sense from an economic standpoint. Consider the following: "The supply of milk is 1,000 litres." In economic analysis, this statement has no relevance whatsoever.

I hope this helps you
:)