Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Define “supply” for commodity

Sagot :

VictoriaKiera287

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
:)
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.