The willingness and ability of sellers to provide goods and services for sale in a market is referred to as ________.

Question

Quizplus · Accepted Answer

The willingness and ability of sellers to provide goods and services for sale corresponds to the concept of supply in economics. Demand refers to the willingness and ability of buyers to purchase goods and services, while microeconomics is a branch of economics that studies individual markets and their mechanisms. The equilibrium price represents the point where supply and demand intersect in a market.

The Willingness and Ability of Sellers to Provide Goods and Services