What term describes the quantity of a product available to consumers?

Study for the Praxis II Elementary Education Test (5001). Access flashcards and multiple choice questions, each with hints and explanations. Get prepared for your exam!

The term that describes the quantity of a product available to consumers is supply. Supply refers to the total amount of a specific good or service that is available to consumers in a market. It encompasses everything from the production of goods by manufacturers to how much of those goods retailers have on their shelves. When discussing economics, supply is a fundamental concept as it directly impacts pricing and availability.

In contrast, demand refers to the consumers' desire to purchase a product, which is not the same as the quantity available. Trade typically refers to the exchange of goods and services between parties, and the market encompasses the place where supply and demand interact, but does not specifically refer to the quantity of a product on hand. Therefore, supply is the specific term that accurately captures the notion of how much of a product is available for consumers to buy.

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