Which term describes the quantity of goods or resources that is available for sale?

Which term describes the quantity of goods or resources that is available for sale?

• A. Supply
• B. Demand
• C. Scarcity
• D. Price

Answer: (A)

In economics, supply is the amount of a good or resource that producers are willing and able to offer for sale at various prices over a period of time. The phrase “available for sale” points to the quantity producers have on hand or ready to bring to market, which is exactly what supply describes. Demand, by contrast, is about how much buyers are willing to purchase at different prices; scarcity refers to the overall limited nature of resources, and price is the money charged that helps coordinate buying and selling but isn’t itself the quantity available. So the term that matches the idea of the quantity available for sale is supply.

In economics, supply is the amount of a good or resource that producers are willing and able to offer for sale at various prices over a period of time. The phrase “available for sale” points to the quantity producers have on hand or ready to bring to market, which is exactly what supply describes. Demand, by contrast, is about how much buyers are willing to purchase at different prices; scarcity refers to the overall limited nature of resources, and price is the money charged that helps coordinate buying and selling but isn’t itself the quantity available. So the term that matches the idea of the quantity available for sale is supply.