In which statement is the term "supply" used correctly? (1)An increase in the price of copper will lead to an increase in the quantity supplied of copper.(2)An increase in the price of copper will lead to an increase in the supply of copper.

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The term "supply" refers to the total amount of a product or service that is available to consumers, while "quantity supplied" refers to the amount of a good or service that producers are willing and able to sell at a specific price. Statement (1) correctly uses "quantity supplied" to describe the change in the amount of copper available at a new price, which is a direct response to price changes. Statement (2) incorrectly suggests that the supply curve itself shifts due to a price change, which is not accurate; price changes result in movements along the supply curve, not shifts of the supply curve.

In Which Statement Is the Term "Supply" Used Correctly? (1)An