Answer to Question #276695 in Microeconomics for Nalyn

Question

define the concept of supply in the context of a public market

Answer 1

Supply is the quantity or total amount of a specific good or service available to consumers. When the market is public, demand increases.

This however forces supply to increase due to high demand of goods and services needed by consumers.

The supplier will then increase production so as to satisfy the needs of the consumers in the public market.