1.

Define production, supply and stock.

Answer»

Production:
The quantity of goods created by the available factors of production during a fixed time period is called production

Supply:
The quantity of production which a producer is able and willing to sell in the market at a given price and at a particular point of time is called supply.

Stock:
The total available quantity of goods with a producer which can be offered for sale in the market as per the ability and willingness of the seller is called stock.


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