What is the term for the total supply of a product offered by all producers?
A)Equilibrium quantity.
B)Market Supply.
C)Saturation point.
D)Aggregate supply.

Question

Quizplus · Accepted Answer

Market Supply refers to the total amount of a product or service that all producers are willing to sell at a given price and time period, making it the correct option.

Option A, Equilibrium quantity, refers to the quantity of a product that is supplied and demanded at the market-clearing price, which is not indicative of all producers.

Option C, Saturation point, is the point where there is a decline in demand or market value of a product as a result of overproduction or oversupply, rather than being the total supply of a product.

Option D, Aggregate supply, is a term used in macroeconomics to denote the total supply of goods and services produced within an economy over a specific period.

What Is the Term for the Total Supply of a Product