QUESTION IMAGE
Question
question 1
1 pts
a supply curve is a graphical illustration of the relationship between price, shown on the vertical axis, and , shown on the horizontal axis.
demand.
quantity demanded.
quantity supplied.
quantity.
In economics (a subfield of Business), a supply curve represents the relationship between the price of a good (on the vertical axis) and the quantity supplied (on the horizontal axis). The "quantity supplied" is the amount of a good that producers are willing and able to sell at a given price. "Demand" and "quantity demanded" are related to the demand curve, not the supply curve. The option "quantity" is too vague, while "quantity supplied" is the precise term for the horizontal axis of a supply curve. Wait, but looking back, actually, the standard supply curve has price on the vertical axis and quantity supplied on the horizontal axis? Wait, no, wait. Wait, the supply curve shows the relationship between price (vertical) and quantity supplied (horizontal). But the option here: let's re - check. Wait, the options are demand, quantity demanded, quantity supplied, quantity. Wait, maybe there's a mistake in my initial thought. Wait, no, the supply curve is about the quantity that suppliers are willing to supply at each price. So the horizontal axis should be quantity supplied. But the selected option in the image is "quantity". Wait, maybe the question is using a more general term. Wait, no, in basic economics, the supply curve plots price (P) on the vertical axis and quantity supplied (Q_s) on the horizontal axis. But among the options, "quantity supplied" is an option. Wait, the user's selected option is "quantity", but that's incorrect. Wait, no, maybe the question is from a source that uses "quantity" as a general term for quantity supplied. Wait, no, let's recall: The supply curve is a graph of the relationship between the price of a good and the quantity supplied. So the correct answer should be "quantity supplied". But let's check the options again. The options are: demand, quantity demanded, quantity supplied, quantity. So the correct option is "quantity supplied". Wait, but the blue dot is on "quantity". Maybe the question is using a simplified term. But according to economic theory, the supply curve has price (vertical) and quantity supplied (horizontal). So the correct answer is the option with "quantity supplied".
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
C. quantity supplied