The quantity of a good or service that producers are willing and able to offer for sale at various prices is called what?

• A. Demand
• B. Elasticity
• C. Supply
• D. Revenue

Answer: (C)

Supply is the quantity producers are willing and able to offer for sale at various prices. This relationship underpins the supply curve and the law of supply: higher prices provide an incentive to produce more, so quantity supplied increases; lower prices reduce the incentive and quantity supplied falls. The phrase “willing and able” matters because it captures both desire and the capacity to produce. This differentiates supply from demand—consumers’ willingness to buy at different prices—and from concepts like elasticity (how responsive quantity is to price) or revenue (money earned from selling), which describe different ideas.