One of the factors that sets prices is how plentiful goods and services are to consumers.This is known as:

Question

Quizplus · Accepted Answer

The factor that sets prices based on how plentiful goods and services are to consumers is known as supply. In economics, supply refers to the amount of a good or service that producers are willing and able to sell at a certain price. As the supply of a good or service increases, the price tends to decrease, and vice versa. Therefore, the most appropriate answer is E, supply.

One of the Factors That Sets Prices Is How Plentiful