Ask AI: Explain the economic concept of supply in your own words and give a real-world example

Supply is the amount of a good or service that is available to buy at any given price. It is determined by the amount that producers are willing and able to sell, and is typically linked to the price of a product or service. For example, if the price of a certain type of fruit increases, farmers may decide to increase their supply of that fruit in order to make more money. This increase in supply will lead to a decrease in price, as there is a greater amount available and people are willing to buy it at a lower cost.