The quantity supplied of a good,service or resource is ________ during a specified period and at a specified price.

Question

Quizplus · Accepted Answer

The quantity supplied refers to the amount of a good, service, or resource that producers are willing and able to sell during a specified period and at a specified price. Therefore, the best choice is E, which states that the quantity supplied is determined by the amount that people are able and willing to sell. Choices A, B, C, and D have some elements of truth, but they don't fully capture the concept of quantity supplied. For instance, A only talks about willingness to sell, but not ability. B is the definition of quantity demanded, not supplied. C refers to the amount actually sold, which is a result of both quantity supplied and demanded. D only talks about ability to sell, but not willingness.

The Quantity Supplied of a Good,service or Resource Is ________