The total amount of a product available in a market at a given price is called the
A. count.
B. demand.
C. number.
D. supply.
Answer (2)
The term that defines the total amount of a product available in a market at a given price is 'supply.' Supply indicates what producers are willing to sell, as opposed to count, demand, or number. Thus, the chosen answer is supply.
;
Define supply: the total amount of a product available in a market at a given price.
Analyze other options: count, demand, and number do not fit the definition.
Conclude: Supply is the correct term.
The answer is s u ppl y .
Explanation
Analyze the problem The question asks us to identify the term that describes the total amount of a product that is available in a market at a specific price. Let's consider each option to determine the correct answer.
Consider each option
Count: This refers to the act of enumerating items, not the total amount available.
Demand: This represents the consumers' desire and ability to purchase a product or service.
Number: Similar to count, this refers to a quantity but doesn't specifically relate to market availability.
Supply: This is the quantity of a product that producers are willing and able to make available for sale at a given price.
Identify the correct term Based on the definitions, the term that accurately describes the total amount of a product available in a market at a given price is supply .
State the final answer The correct answer is supply .
Examples
In economics, understanding supply is crucial for analyzing market equilibrium. For example, if a new technology allows manufacturers to produce more goods at a lower cost, the supply of those goods increases. This shift in supply can lead to lower prices and increased availability for consumers. Analyzing supply helps businesses make informed decisions about production and pricing strategies.
