The relationship between the price in a market and the amount that producers collectively make available for sale, is referred to as:_______

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29-08-2022
Social Studies

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The relationship between the price in a market and the amount that producers collectively make available for sale, is referred to as:_______

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-09-02T18:13:06-04:00

The term "supply" refers to the link between the price in a market and the quantity of a product or service that producers as a group are willing to put up for sale.

supply completes the question.

This is further explained below.

What is supply?

The amount of a resource that companies, manufacturers, employees, lenders, or other economic actors are willing and able to deliver to the market or to a particular individual is referred to as the supply of that resource. The term "supply" may apply to manufactured goods, work hours, raw resources, or any other commodity that is in high demand or that is expensive.

In the field of economics, a commodity is a type of economic good, typically a resource, that is fully or substantially fungible. This means that the market views different examples of the goods as being equivalent or nearly equivalent to one another, regardless of who produced them.

In conclusion, Supply is the term used to describe the link between a market's pricing and the quantity that producers collectively make available for sale.\