Supply vs. Quantity Supplied: What’s the Difference?

The main difference between supply and quantity supplied is that supply is a long-term concept that considers the entire market whereas quantity supplied is a short-term concept focused on a specific quantity offered in response to a given price.

Before we move to more differences, let’s first understand Supply and Quantity Supplied:

  • Supply: Supply represents the overall relationship between price and the quantity of a particular good or service that producers are willing to offer for sale in the market.
  • Quantity Supplied: Quantity supplied refers to the specific amount of a good or service that a producer is willing and able to offer for sale at a particular price.

Now, let’s get to Supply vs Quantity Supplied:

Major differences between Supply and Quantity Supplied

Supply Quantity Supplied
Supply considers multiple factors that influence production and market conditions, such as production costs, technology, and government regulations. Quantity supplied assumes all other factors remain constant.
Supply represents a relationship between price and quantity, showing how the quantity supplied changes as prices vary. Quantity supplied focuses on a specific quantity associated with a particular price.
Supply is usually depicted graphically as a supply curve, showing the relationship between price and quantity supplied. Quantity supplied is a specific point on that curve.
Supply is influenced by long-term factors that affect production capacity, such as investments in capital, research, and development. Quantity supplied relates to short-term adjustments to price changes.
Supply is an important determinant of market equilibrium. Quantity supplied is only one component of market equilibrium.

So, these are the main differences between the entities.

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