The relationship between the quantity of a good or service sellers are willing and able to offer for sale and the independent variables that determine quantity is:

Question

Quizplus · Accepted Answer

Supply refers to the quantity of a good or service that sellers are willing and able to offer for sale at various prices, assuming all other factors remain constant. The quantity of supply is determined by factors such as the cost of production, availability of resources, technology, and government policies. So, it can be concluded that the relationship between the quantity of a good or service sellers are willing and able to offer for sale and the independent variables that determine quantity is called supply.

The Relationship Between the Quantity of a Good or Service