What term describes the quantity of goods available at a given price?

What term describes the quantity of goods available at a given price?

• A. Demand
• B. Supply
• C. Market
• D. Surplus

Answer: (B)

Supply describes the quantity of goods that producers are willing and able to offer for sale at a given price. This term directly answers the question because it ties the amount available to the price level, reflecting how higher prices incentivize more production and lower prices reduce it. The other terms refer to different ideas: demand is about how much buyers want to purchase at that price, a market is the place where buyers and sellers interact, and a surplus is a situation where the quantity supplied exceeds the quantity demanded at that price, not the term for the quantity itself.

Supply describes the quantity of goods that producers are willing and able to offer for sale at a given price. This term directly answers the question because it ties the amount available to the price level, reflecting how higher prices incentivize more production and lower prices reduce it. The other terms refer to different ideas: demand is about how much buyers want to purchase at that price, a market is the place where buyers and sellers interact, and a surplus is a situation where the quantity supplied exceeds the quantity demanded at that price, not the term for the quantity itself.