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The Supply Curve shows the relation between which of the following?
  • a)
    Quantity and Price
  • b)
    Quality and Price
  • c)
    Demand and Price
  • d)
    Demand and Quality
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The Supply Curve shows the relation between which of the following?a)...
  • The Supply curve is a graphical representation that shows the relationship between the quantity of product that a seller is able and willing to supply and the product’s price.
  • The quantity of the product supplied is on the horizontal axis (X-Axis), and the product price is measured on the vertical axis (Y-Axis) of the graph.
  • Time is an important factor to supply since suppliers must react quickly to a change in demand or price.
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The Supply Curve shows the relation between which of the following?a)Quantity and Priceb)Quality and Pricec)Demand and Priced)Demand and QualityCorrect answer is option 'A'. Can you explain this answer?
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