The amount of a commodity that sellers or producers are able and willing to provide for sale at a specific price for a specific length of time is referred to as the supply of that commodity.
To put it another way, we may say that supply is a relative concept. It is always used in the context of a relationship between price and time. A statement of supply that makes no mention of price or time makes little sense from an economic standpoint. Consider the following: "The supply of milk is 1,000 litres." In economic analysis, this statement has no relevance whatsoever.
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