The willingness and ability of sellers to provide goods and services for sale in a market is referred to as ______.

Question

Quizplus · Accepted Answer

The willingness and ability of sellers to provide goods and services for sale in a market is referred to as supply. The other options do not describe this concept accurately. The equilibrium price is the price at which the quantity supplied equals the quantity demanded, microeconomics is the study of individual economic units, and demand refers to the willingness and ability of buyers to purchase goods or services.

The Willingness and Ability of Sellers to Provide Goods and Services