Concept of supply 

 Concept of Supply

Supply refers to the quantity of a good or service that producers are willing and able to offer for sale at different prices during a specific period of time.

It represents the producer's side of the market.

Supply is always associated with two important conditions:

1. Willingness to supply – Producer must want to sell the product.

2. Ability to supply – Producer must have the resources and capacity to produce the product.

Supply does not mean the total stock of goods; it means the portion of stock that is actually offered for sale in the market at a given price.

In economics, supply is shown as a schedule (table) or curve that indicates how much quantity a producer will supply at various price levels. Generally, producers supply more when prices are high and less when prices are low, because higher prices increase their profit motive.

Thus, the concept of supply highlights the relationship between price and quantity supplied, keeping other factors constant.