Supply Is the

question 458

Multiple Choice

Supply is the

• A) limited resources available.
• B) entire relationship between the quantity supplied and the price of a good.
• C) cost of producing a good.
• D) willingness to produce a good if the technology to produce it becomes available.

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Definitions:

Tangible Things

Objects or items that can be physically touched and seen, possessing material existence as opposed to abstract concepts.

Identification

The process of recognizing and acknowledging the specific identity of a person or thing.

Goods

Tangible and movable personal property that can be sold or bought.

Acceptance

In contract law, the expression by the offeree of their agreement to the terms of the offer, forming a legally binding contract.