Effective supply is the total amount of a commodity
ECONOMICS
WAEC 2017
Effective supply is the total amount of a commodity
- A. from a single producer
- B. in the warehouse of producers
- C. offered for sale at a market place
- D. produced for the market
Correct Answer: C. offered for sale at a market place
Explanation
In economics, effective demand (ED) in a market is the demand for a product or service which occurs when purchasers are constrained in a different market. it is the Quantity of a good or service that consumers are actually buying at the current market price.
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