what do you mean by supply? disscus the scope of supply
Answers
Answer:
all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business”
Supply is a term of economics
Explanation:
supply and demand is the two main aspect of a market , market works on these forces as these forces will ultimately decide the prices, demand and supply always goes in hand in hand. supply is created by the demand generated by the customers and the suppliers produce various goods and services for the needs of the customers, which is called demand in the market. supply of any goods or services is always related to the demand for those goods and services. the scope of supply is really wide, without supply the markets will not work. when the demand of a product rises, automatically its price rises and the producer started to increase its supply to meet the excessive demand.