Question

The quantity of a good or service that manufacturers or owners are willing to sell at different prices during a specific time period is known as the:

a) Supply
b) Demand
c) Market equilibrium
d) Elasticity

Answer 1

The quantity of a good or service that manufacturers or owners are willing to sell at different prices during a specific time period is known as supply.

Step-by-step explanation:

The correct answer is a) Supply. The quantity of a good or service that manufacturers or owners are willing to sell at different prices during a specific time period is known as supply. The supply curve shows the relationship between price and the quantity supplied of a good or service. When the price of a good or service increases, suppliers are usually willing to produce and sell more of it, resulting in an upward-sloping supply curve.