Examlex
Economists use the term quantity supplied to summarize all of the influences on a business's willingness to produce a particular product or service.
Equilibrium Price
The price at which the quantity of a good supplied is equal to the quantity demanded, leading to a stable market condition.
Quantity Demanded
The aggregate quantity of a product or service that buyers are prepared and capable of buying at a given price.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price over a specific period.
Economic Efficiency
A scenario in which the allocation of resources is aimed at maximizing the creation of goods and services.
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