Economics places a high priority on supply and its drivers because they provide light on producer behaviour and the availability of goods and services on the market. This chapter examines the idea of supply in economics and its factors, emphasizing its importance and uses. The term supply refers to the volume of a good or service that manufacturers are prepared and willing to provide for sale at various prices for a given time frame. Foreseeing market outcomes, making wise business decisions, and creating efficient economic policies all require an understanding of the factors that affect supply.
