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The Supply Curve
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The Supply Curve
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3. The Market Forces of Supply and Demand / The Supply Curve / Problem 2
Problem 2
Which of the following statements correctly distinguishes between 'supply' and 'quantity supplied'?
A
'Supply' is the same as 'quantity supplied' and both refer to the total market supply.
B
'Supply' is the amount of goods sellers are willing to sell, while 'quantity supplied' is the amount buyers are willing to buy.
C
'Supply' refers to the entire relationship between price and quantity supplied, while 'quantity supplied' refers to a specific amount at a specific price.
D
'Supply' is the amount of goods available at a specific price, while 'quantity supplied' is the total market supply.
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