The amount of a product or service that is available for purchase at any given time is called ________.

Question

Quizplus · Accepted Answer

Supply refers to the amount of a product or service that is available for purchase at any given time. This can be influenced by factors such as production levels, storage capacity, and distribution channels. A surplus would refer to a situation where there is more supply than demand, while a shortage would refer to a situation where there is more demand than supply. A commodity refers to a raw material or primary agricultural product that can be bought and sold, while demand refers to the extent to which people want or need a particular product or service.

The Amount of a Product or Service That Is Available