Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsSupply2 Marks
Question
Explain the meaning of supply.
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Answer
All factors remaining constant, at a particular price, at a particular time, the willingness and capacity of the firm to sell goods is called supply.
The supply is not creates if the firm has no capacity or no willingness to sell the product. In short, supply means the willingness and capacity of the firm to sell the product at a particular price and at a particular time.
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