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Supply

suh-PLAI /səˈplaɪ/

nounverbB1

FormalTechnical

(noun) The total amount of a specific good or service that is available to consumers. (verb) To make (something needed or wanted) available to someone.

In economics, 'supply' specifically refers to the quantity producers are willing and able to offer at various prices, not just what's physically present.

The story behind the word. 'Supply' comes from the Old French soupleier, meaning 'to fill up' or 'to complete,' which itself traces back to the Latin supplere. This Latin root combined sub- (under) and plere (to fill). So, to 'supply' was originally to 'fill up from below,' like filling a vessel from its base, eventually evolving to mean providing what is needed.

Word relationships

stock: 'Stock' refers to a current inventory, while 'supply' in economics refers to the flow or amount offered over a period at different prices.
provision: 'Provision' is more about the act of providing, often for a specific need, less about market availability.

demand: 'Demand' is the desire and ability of consumers to purchase, directly opposite to 'supply' from producers.

Commonly confused with

inventory: 'Inventory' is what a business has on hand, while 'supply' is what it's willing to sell at different prices.

Word family

supplier (noun): A person or organization that provides something needed or wanted.
supplied (verb (past tense)): Made available.

Collocations

aggregate supply
supply chain
supply curve
supply shock
increase supply
decrease supply

Idioms & expressions

supply and demand

Example sentences

"When the price of oil rises, producers are incentivized to increase their supply, bringing more crude to the market." Economic analysis of market dynamics.
"The company struggled to supply enough units to meet the unexpected surge in demand during the holiday season." A business report discussing inventory.

Memory hook

Think of a 'SUP-er PLY-er' (supplier) who brings you everything you need, filling up your needs. SUP-PLY = Fill Up

When not to use

While 'supply' can mean providing something generally, in an economic context, it's distinct from simply 'giving' or 'distributing' without the market dynamics of willingness and ability to sell.

Fun facts

The phrase 'supply and demand' became widely known in the 18th century, particularly through the work of Adam Smith.

Related words

Demand, Market, Equilibrium

Explore more words

yield, abundance, surplus, distribution, capacity, produce