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Q&A - What is market supply

Jim Riley

1st May 2009

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Supply is defined as the quantity of a product that a producer is willing and able to supply onto the market at a given price in a given time period.

Market supply is the total quantity that all producers in a market are prepared to supply at each price level.

The basic law of supply is that as the price of a product rises, so businesses expand their supply onto the market. A supply curve shows a relationship between the price and quantity a firm is willing and able to sell. Here is an example:

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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