Answer to Question #240923 in Economics for CCW

Question

Economics - Chap. 4

make visual notes, acronyms, symbols, of the definition

1) supply -

2) quantity supplied -

Answer 1

When economists refer to supply, they mean the relationship between a range of prices and the quantities supplied at those prices—a relationship that can be illustrated with a supply curve or a supply schedule. In short, supply refers to the curve, and quantity supplied refers to a specific point on the curve.