Explain the term (supply) as it applies to economics. What is the difference between supply and quantity supplied?

Question

anonymous · Answer

There are numerous differences.  This is a very fundamental concept to understand.  Supply is a curve; it is the relationship between price and the quantity supplied at each price.

Quantity supplied is a point on the supply curve.  It represents how much of a product will be supplied at that given price (based on the current supply schedule/curve).

A change in price will change quantity supplied.  Pretty much anything else (any exogenous variable) will shift the supply curve.

osnad · Answer

Supply is the various quantities of a commodity that sellers are willing and able to offer for sale at various prices at a given period of time.