Utbud

Utbud, in economics and business, refers to the quantity of goods and services that producers are willing to offer for sale at various prices within a specific period. In common usage it also denotes the range or assortment of products that a retailer, platform, or market provides to customers. The concept sits alongside demand and plays a central role in determining market prices and quantities through the interaction of buyers and sellers.

Determinants of utbud include production costs, technology, and input prices; expectations about future prices; taxes, subsidies, and regulation; and the number and capacity of producers. In the short run, fixed inputs can limit the ability to respond to price changes, while in the long run firms can adjust capacity and entry or exit from the market, leading to a more elastic utbud.

Measurement and theory often describe utbud with a supply curve that shows the quantity supplied at each price. Shifts in the curve reflect changes in the determinants above, while movements along the curve reflect price changes. The law of supply holds that, all else equal, higher prices lead to higher quantities supplied.

Market outcomes depend on the interaction of utbud and demand. When they meet, a market equilibrium is reached at an equilibrium price and quantity. Policy measures, competition, and market structure can affect the level of competition, prices, and availability of products. In retail or digital platforms, utbud also refers to the breadth of the product assortment offered to consumers.