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Which side of the market does supply represent?
A
Supply represents the selling side of the market.
B
Supply describes producers' plans, while demand describes consumers' plans; a market needs both.
C
A producer offers a unit for sale when the price covers the cost of making it and leaves something over.
D
Supply is a rate of offering for sale, not a pile of goods.
Card 1 of 23
2.3.1 What is supply Flashcards
23 flashcards on OCR GCSE Economics 2.3.1 What is supply: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.