The points on a curve showing the relationship between the price of a good or service and the quantity of that good or service willing to be produced is known as the
A) equilibrium curve.
B) demand curve.
C) balance curve.
D) variable price curve.
E) supply curve.

Question

Quizplus · Accepted Answer

The points on a curve that show the relationship between the price of a good or service and the quantity of that good or service willing to be produced is commonly known as the supply curve. It is a fundamental concept in economics that explains how producers respond to changes in price by adjusting the quantity of goods or services they are willing and able to supply. The other options, such as equilibrium curve or balance curve, are not commonly used terminologies in economics, and variable price curve is a vague description of a curve. Hence, the best choice is E.

The Points on a Curve Showing the Relationship Between the Price