Define market supply . Explain the …

The Market Supply is the total amount of a good or service all producers are willing to provide at the prevailing set of relative prices during a defined period of time.  The market supply is the total of all individual producer supplies. 

• A change in the price of a good or service, holding all else constant, will result in a movement along the supply curve
• A change in the cost of an input will impact the cost of producing a good and will result in a shift in supply; supply will shift outward if costs decrease and will shift inward if they increase.
• A change in the expected demand for a good or service will result in a shift in supply; supply will shift outward if enthusiasm is expected to increase and will shift inward if there is an expectation for consumers preferences to change in favor of an alternate good or service.