Which of the following states the definition of supply?

Question

Quizplus · Accepted Answer

The definition of supply states that there is a positive relationship between the price of a good and the quantity offered for sale by suppliers. As the price of a good increases, the quantity that suppliers are willing to supply also increases, and vice versa. Option A describes the law of demand, which relates to buyers, not suppliers. Option B is incorrect as it describes the law of supply and demand, not just supply. Option D is incorrect, as it describes an inverse relationship between price and quantity supplied, which is not true according to the law of supply.

Which of the Following States the Definition of Supply